Financial services investment platform Portage has finalised a new agreement to manage select assets from the fintech portfolio of US venture capital firm Point72 Ventures.
The deal involves transferring these assets into a $280 million continuation vehicle (CV), named PPCVI, which will be managed by an affiliate of Portage serving as general partner.
The fund’s investment was led by Goldman Sachs Alternatives, with additional support from secondary market participants.
Point72 Ventures’ fintech portfolio currently includes Trade Ledger, Covalto, Pagos, GenTwo, and, among others, crypto derivatives exchange D2X, for which the firm led a $10 million Series A in 2024.
In addition to the continuation fund, Portage and Point72 Ventures have also entered into a separate services agreement. Under this arrangement, Portage says it will “oversee certain assets owned by Point72 Ventures that are not being transferred to the CV”, according to a statement.
As part of the transaction, Point72 Ventures partner Tripp Shriner has joined Portage as a general partner to “oversee the CV while contributing to Portage’s broader investment strategy”.
Founded in 2016, Portage operates as the fintech investment division of Sagard, the asset management arm of Montreal-based Power Corp. The firm has approximately $5.7 billion in assets under management across more than 115 portfolio companies, including a late-stage fintech fund launched in 2022 and a series of early-stage fintech funds.
Source: https://www.fintechfutures.com/fintech/portage-asset-management-deal-point72-ventures
