# Portage Ventures

Portage Ventures is a Venture Capital based in Toronto, Canada.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Toronto, Canada
- **Region:** North America
- **Address:** Toronto, Canada
- **Founded:** 2016
- **Assets under management:** $6.4B (per the firm, March 2026)
- **Website:** portageinvest.com
- **LinkedIn:** https://www.linkedin.com/company/portagevc

## Regulatory record

- **Reports private funds:** No

## About

Portage Ventures is a private equity firm based in Toronto, Canada. It focuses on venture capital investments. The firm oversees approximately $3 billion in assets and has a staff of 71, including 23 investment professionals.

## Sectors

- FinTech

## People

- Adam Felesky — Co-Founder
- Paul Desmarais III — Co-Founder

## Questions

### Who runs investment decisions at Portage Ventures?

Portage was co-founded by Adam Felesky and Paul Desmarais III, who lead the platform's investment strategy. The firm operates with a thesis-driven approach and an investment team drawn from both entrepreneurial and operational backgrounds. Portfolio decisions are made through a collaborative process supported by a network of more than 20 advisors with deep financial services experience (per the firm).

### How is Portage Ventures related to Sagard?

Portage is the fintech and financial services investment platform within Sagard, a global multi-strategy alternative asset manager with $45B under management as of December 2025. Sagard co-founder Paul Desmarais III also co-founded Portage in 2016. Sagard invests across venture capital, private equity, private credit, and real estate, and operates Sagard Wealth and the venture creation arm Diagram, giving Portage access to a broad institutional ecosystem (per the firm).

### Does Portage Ventures participate in fund commitments or only direct deals?

Portage operates as a direct investor through two main strategies: Portage Ventures for early-stage fintech and Portage Capital Solutions for later-stage companies. The firm does not describe itself as a fund-of-funds; rather, it raises its own venture and growth funds and co-investment vehicles. Its capital can be deployed flexibly across stages, from seed to pre-IPO, within the same platform (per the firm).

### What investment stages does Portage typically target?

Portage targets the full company lifecycle within fintech and financial services. Its early-stage strategy, Portage Ventures, covers seed, start-up, and early-stage rounds, while Portage Capital Solutions, launched in 2022, provides growth and later-stage capital. This structure lets the firm support companies from their first institutional round through expansion and recapitalization (per the firm).

### Where does Portage's later-stage capital come from?

Later-stage capital is deployed through Portage Capital Solutions, a dedicated fund launched in 2022. Portage has not publicly disclosed the specific size of that fund, but it sits alongside three earlier venture funds — the most recent of which closed at $655M. The combined platform oversees $6.4B in assets under management as of March 2026 (per the firm).

## Related profiles

- [Porta Equity](https://altss.com/profile/porta-equity)
- [Portal Innovations](https://altss.com/profile/portal-innovations)

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Last updated: 2026-06-03T20:00:00.000Z

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