Global fintech investor Portage announced today the launch of a late-stage, fintech-focused Portage Capital Solutions (“PCS”) Fund. Daniel Ballen and Devon Kirk, who are co-heads, will direct the strategy, concentrating on structured opportunities in global fintech and financial services firms and aiming for investments over $50 million.

Devon Kirk has almost 20 years of experience in financial-focused structured solutions and private equity. Devon worked at Toronto-based CPP Investments for more than ten years. Her most recent position was Managing Director & Head of Capital Solutions, where she was in charge of managing finances, unique situations, and specialized investments. She was their Direct Private Equity group’s financials-focused Managing Director before that.

“We see many great companies that are looking for the right partner. Portage’s expertise and network in fintech and financial services are real differentiators as businesses look to navigate this market. We will deliver more than just capital,”

                                                 Devon Kirk, Partner & Co-Head, Portage Capital Solutions.

Private equity, structured equity, and special situations investor with a focus on the financial services, fintech, and real estate technology sectors, Daniel Ballen has nearly 20 years of experience. Prior to joining Portage, he worked as a Portfolio Manager at PIMCO, based in New York, where he oversaw a group that handled structured equity and private equity investments for the company’s alternatives franchise in both North America and Europe. Daniel has previously worked with expanding companies across the fintech and financials industries as a member of the investment teams at Pine Brook Partners and Bain Capital.

“In this market environment, we’re seeing accelerated demand for flexible capital solutions as entrepreneurs and shareholders look to continue the strong growth trajectory of their business,”

                                             Daniel Ballen, Partner & Co-Head, Portage Capital Solutions.

Whether for organic expansion, M&A, or recapitalizations, Portage thinks PCS’ strategy is well-positioned to address the demand for capital across all cycles in both public and private markets. PCS will make use of Portage’s current platform, one of the biggest international fintech specialty investment firms with over $3 billion in AUM, and gain from its extensive fintech expertise, established sourcing network, and demonstrated value-creation know-how.

“Daniel and Devon bring extensive sourcing and transaction execution experience across asset classes,”

“Together, we can expand our efforts to partner with later stage visionary fintech entrepreneurs providing both capital and a value creation network that supports them throughout the life of their business.”

                                                                 Adam Felesky, Co-Founder and CEO of Portage.

“Portage is building a global platform investing in what we view as the top financial services leaders across the globe,”

“With talented professionals such as Daniel and Devon, we are excited to support companies from early-stage to growth.”

                                                               Paul Desmarais III, Chairman and CEO of Sagard.

The PCS team has offices in New York and Toronto, and future growth is anticipated. The squad will begin operations in the third quarter of 2022, and fund-raising activities have already begun.