Key Points:
- Adam Felesky, CEO of fintech-focused investment firm Portage, believes that the UK market offers significant opportunities in the banking sector.
- Portage, the venture capital arm of Canada-based alternative asset management firm Sagard, has around $2.5bn in assets under management.
Fintech-focused investment firm Portage, the venture capital arm of Sagard, is eyeing investment opportunities in the UK banking sector. CEO Adam Felesky sees potential in the market, despite acknowledging its competitiveness. According to Felesky, large North American venture capital firms are actively participating in the UK, adding to the competition.
Portage is keen to invest in the UK fintech market due to the country’s strong banking and financial services sector. The firm manages approximately $2.5bn in assets and focuses on sectors such as alternative lending, payments, and banking infrastructure.
Felesky’s interest in the UK market comes at a time when the country is experiencing significant growth in the fintech sector. The UK has become a global fintech hub, attracting venture capital and investment from around the world. However, this also means increased competition, especially from large North American firms.
Despite the competition, Portage believes there are still attractive opportunities in the UK. The firm is particularly interested in disruptive technologies in the banking sector, such as open banking, digital payments, and blockchain. These technologies have the potential to revolutionize the way financial services are delivered and create new market opportunities.
Portage’s investment strategy involves partnering with early-stage fintech startups and providing them with capital and expertise. The firm looks for companies with innovative business models, strong leadership teams, and scalable products or services. Portage aims to support these startups in their growth and development, helping them navigate the competitive landscape and achieve success.
In addition to the UK, Portage also actively invests in other fintech markets globally, including Canada, the US, and Europe. The firm has a strong track record of successful investments in the fintech space, with a portfolio that includes companies such as Wealthsimple, Borrowell, and Mogo.
Overall, Portage’s interest in the UK fintech market highlights the country’s attractiveness as a hub for innovation and investment in the banking sector. Despite the competitive landscape, there are still opportunities for disruptive startups to thrive and make a significant impact in the industry. With the support and expertise provided by firms like Portage, these startups have the potential to transform the future of banking and finance.
