The people
What they build
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Working at Portage
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About
Portage started in 2016 as Portag3 Ventures, backed by Power Financial, IGM Financial and Great-West Lifeco, with Adam Felesky — a co-founder and former chief executive of Horizons ETFs — running it day to day alongside Paul Desmarais III. It has since dropped the numeral and split into two strategies: Portage Ventures for early-stage fintech and Portage Capital Solutions for later-stage and structured deals. The firm sits within Sagard, the alternative asset manager that is an indirect subsidiary of Power Corporation of Canada, and works out of Montreal, Toronto, Paris, New York and London. Ricky Lai, a general partner leading Series A and B investments, gave the opening keynote at the fintech market overview during Toronto Tech Week 2026 — on AI-enabled companies raising at multiples of their peers, fintech and SaaS multiples converging, dry powder that has not been deployed, and open banking going live in Canada.
Backers
Portage is part of Sagard, an indirect subsidiary of Power Corporation of Canada. Its first fund was backed by a corporate partnership of Power Financial, IGM Financial and Great-West Lifeco.
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Quick answers
What is Portage?
A fintech and financial services investment platform within Sagard, investing globally from early stage through growth. It reports US$7.0 billion under management and more than 130 portfolio companies.
Who founded Portage?
Adam Felesky and Paul Desmarais III launched it in 2016 as Portag3 Ventures, backed by Power Financial, IGM Financial and Great-West Lifeco.
Is Portage the same as Portag3?
Yes. The firm launched as Portag3 Ventures in 2016 and now uses Portage, with two strategies: Portage Ventures for early-stage fintech and Portage Capital Solutions for later-stage capital.
Where is Portage based?
Montreal, with offices in Toronto, Paris, New York and London.