The Globe and Mail reports in its Wednesday edition that Power Corp. of Canada's Portage Ventures established a vanguard position in the financial technology sector a decade ago by backing start-ups that grew into valuable companies, including Wealthsimple Financial Corp. The Globe's Sean Silcoff and Clare O'Hara write that now as fellow venture capital firms focus on artificial intelligence and other areas, Portage is not only sticking with fintech but expanding its strategy to buy into more mature companies. Portage has taken over management of Point72 Asset Management's fintech portfolio. That comprises stakes in 40 private, relatively mature companies that Point72, the New York hedge fund led by billionaire Steve Cohen has backed. The group includes DriveWealth LLC, which builds on-line trading platform technology. The Point72 portfolio has been rolled into a new Portage fund valued at $280-million (U.S.). Point72 is keeping a 40-per-cent stake in the vehicle. The balance was financed by Goldman Sachs, Portage and an unnamed European family. The new Portage fund is a continuation vehicle, a term that describes funds that buy "secondary" stakes in established companies typically from other investors and employees.