RE:RE:RE:You need to place a initial share price on VoltaXplore Desmarais-backed investment vehicle aims to raise $1 billion | Financial Post
The SPAC has yet to make an acquisition.
“This is really just another extension of that strategy in that what we’re seeing in the market is there’s a lot of great late-stage companies that really don’t fit in the bucket of growth,” Felesky said.
He said the new Portage fund will seek out management teams and shareholder groups that would like to remain in control and are not prepared to sell to private equity buyout firms making the rounds.
“Private equity is very active and they’ve raised a lot of capital, and I think they’ll remain active,” he said, adding that he thinks there is room for both strategies.
Target firms would ideally be around or at break-even, and “with our capital, have the path to profitability,” he said, adding that they would typically need 24 to 36 months to mature before looking at a “liquidity window” such as an initial public offering.