Chris O’Neill, seen here on June 19, 2018, joins Portag3 three months after it closed Canada’s largest financial technology venture fund.One of the best-known Canadian technology leaders in the San Francisco Bay Area is joining Power Corp. of Canada’s financial technology venture capital firm, Portag3 Ventures, as a partner.
Portag3 is the early-stage investment unit of Power’s alternative-asset management arm Sagard Holdings.It has backed some of Canada’s most prominent startups, including robo-adviser Wealthsimple Inc., mobile banking service provider Koho Financial Inc., benefits provider League Inc., artificial intelligence firm Integrate.ai Inc., online lender Borrowell Inc., telemedicine firm Dialogue Technologies and e-commerce merchant financier Clear Finance Technology Corp. .
He added that Mr. O’Neill, who becomes Portag3’s sixth investment partner , is the first “who’s scaled a business beyond $50-million of revenue. We think he’s going to be of huge value to our portfolio companies that are a little more mature.”Mr. O’Neill, the son of Ontario Canadian Tire franchisees in Goderich, Ont., moved to the Bay area in 1998 for what was supposed to be two-month stint when he worked for management consulting company Oliver Wyman.
Mr. O’Neill has also backed several Canadian startups as an angel investor, including food-ordering app company Ritual Technologies Inc. and AI specialist Layer 6 Inc.,“I enjoy and get energy from curious and driven people that have world-changing aspirations and want to build enduring companies,” Mr. O’Neill said.
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