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Why Fintech? Why Now? (Portage)

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StudyPortageJanuary 202413 pages20 min readOriginal source
Key number
$1,150 billion
Estimated fintech industry valuation in 2032 p.6
What changed
$62 billion
Private fintech fundraising in 2023 (down from $164 billion in 2021) p.5

Summary

  • Portage manages over $2.5 billion across 86 different investments and three vintages.p.9
  • Fintech venture capital investments grew from $17 billion in 2015 to over $120 billion in 2023.p.5
  • Private fintech fundraising dropped to $62 billion in 2023 from $164 billion in 2021.p.5
  • The fintech industry was valued at $290 billion in 2023 and is projected to reach $1,150 billion by 2032.p.6

Key insights

  1. Financial services represent 20%+ of global GDP.p.2
  2. Net ITD IRR is 31.5% for Fund I, 21.4% for Fund II and 2.9% for Fund III.p.3
  3. US IPOs reached 1,035 in 2021 versus 232 in 2019.p.5
  4. Fintech companies that IPO'd in 2020 and 2021 are on average trading 60%+ below their IPO prices.p.5
  5. JP Morgan alone is investing $12 billion a year to fuel a team of 50,000 technologists.p.7
  6. Portage was founded in 2016 to capitalize on the digitalization of the financial services sector.p.2

Published by Portage (funder profile)

Funders mentioned

Diagram VenturesJPMorgan ChaseSagard

Topics and entities

GlobalIPOs and listingsStartup fundingVenture capitalJP MorganPortageSagard

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