442. The Prospects & Primary Benefits of Open Banking, Assessing Multi-Variate Risk in Fintech, and Whether Larger Outcomes will come from Embedded Fintech or Vertically Integrated Platforms (Adam Felesky)
Jul 15, 2024
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Adam Felesky, CEO of Portage, discusses open banking, fintech risk assessment, and the future of embedded fintech. Topics include investing in Web3, crypto, and blockchain, modernizing financial infrastructure, open banking benefits, fintech acquisitions, and portfolio support.
Open banking offers primary benefits in modernizing financial infrastructure.
Portage focuses on vertically integrated fintech investments for global growth.
Deep dives
Success of Tovala Meal Kit Company with Costco Retail Partnership
Tovala, a meal kit company, has seen three consecutive months of profitability and revenue exceeding nine figures. They have launched a significant retail partnership with Costco, aiming to provide high-quality meals with quick preparation times. By focusing on solving customer needs and offering efficient meal prep solutions, Tovala has gained success in the competitive meal kit market.
Adam Falesky's Transition to Venture Capital and Founding Portage
Adam Falesky, CEO of Portage, transitioned from a career in investment banking and asset management to venture capital. With a background in building ETF companies, Falesky co-founded Portage as a focused multi-stage investment platform in the fintech sector. Leveraging his experience and industry knowledge, Portage primarily targets financial services sectors across North America and Europe.
Portage's Investment Thesis in FinTech and Diversified Approach
Portage adopts a vertically focused investment strategy solely in fintech, specifically targeting banking, insurance, wealth management, and payments sectors across North America and Europe. By investing across various stages from seed to Series C and later stages, Portage aims to leverage its financial expertise and ecosystem, including partnerships with financial institutions, to drive growth and support its portfolio companies.
Strategic Investment Approach and Global Market Insights by Portage
Portage evaluates global investment opportunities by assessing relative valuations in different markets and considering maturity points in various regions. The fund strategically focuses on optimizing entry points, such as Series B investments in North America, amidst changing market cycles. With extensive insights into the financial landscape, Portage navigates risks and opportunities across international geographies to drive successful investments.
Adam Felesky of Portage joins Nick to discuss The Prospects & Primary Benefits of Open Banking, Assessing Multi-Variate Risk in Fintech, and Whether Larger Outcomes will come from Embedded Fintech or Vertically Integrated Platforms. In this episode we cover:
Investing in Web3, Crypto, and Blockchain, with a Focus on Global Markets and Entry Points
Investing in International Companies, with a Focus on Due Diligence and Risk Assessment
Modernizing Financial Infrastructure and Stacks
Open Banking, Payment Rails, and Acquisitions in the FinTech Industry
FinTech Investing, Risk Management, and Portfolio Support
The hosts of The Full Ratchet are Nick Moran and Nate Pierotti of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.