Article

Portage is acquiring a $280 million portfolio of startup investments from Point72 Ventures, becoming the lead investor in a new continuation fund. This acquisition marks Point72's exit from fintech as it shifts focus to AI and defense tech.

In 2024, Point72 Ventures disbanded its fintech team, with general partner Tripp Shriner joining Portage as part of the transaction. Point72 engaged with various firms over 18 months before selecting Portage due to its fintech expertise.

The continuation fund includes approximately 40 companies, and Portage will also advise on Point72's remaining fintech startups. Goldman Sachs Alternatives helped secure additional investors for the fund. Portage aims to expand into venture capital secondaries, which are increasingly important in private markets.