Point72 Ventures partner Tripp Shriner has joined Portage as a general partner.
Venture capital firm Point72 Ventures, backed by hedge fund manager Steven A. Cohen, has transferred financial technology assets to a $280 million continuation vehicle (CV) to be managed by an affiliate of fintech investment platform Portage, which will serve as the CV’s general partner, according to officials.
Officials decline to identify the fintech assets that will be included in the CV.
In addition, Point72 Ventures partner Tripp Shriner has joined Portage as a general partner as part of the transaction, officials say. Shriner will oversee the CV while contributing to Portage’s broader investment strategy.
“The investment in the CV was led by Goldman Sachs Alternatives and supported by a syndicate of secondary investors,” according to the announcement. “In addition to the CV, Portage and Point72 Ventures have entered into a services agreement under which Portage will oversee certain assets owned by Point72 Ventures that are not being transferred to the CV.”
Toronto-based Portage, which has more than $5.7 billion in assets under management (AUM), is a platform within Sagard, a global multi-strategy alternative asset management firm with over $33 billion under management, officials say. Portage has more than 115 portfolio companies and a staff of 25+ investment professionals.
Point72 Ventures tapped PJT Partners as the exclusive financial advisor for the transaction, officials note.
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