Fintech investor Portage is seeking to elevate as much as $1 billion for a brand new fund centered on late-stage startups.
Portage CEO Adam Felesky tells Reuters that the fund will put money into securities that mix debt and fairness options.
Corporations is not going to must lock in a valuation, which Portage argues is essential for startups which might be cautious of conventional funding rounds that require them to take a success on valuations in the course of the financial downturn.
“On this market surroundings, we’re seeing accelerated demand for versatile capital options as entrepreneurs and shareholders look to proceed the robust development trajectory of their enterprise,” says fund co-head Daniel Ballen.