Point72 Ventures Transfers Management of Fintech Investments to Portage
Point72 Ventures, the venture capital arm of billionaire Steven Cohen’s investment firm, has announced the transfer of a portion of its fintech portfolio to Portage, a fintech investment firm. This move is seen by industry analysts as a response to the declining potential for successful exits from the fintech sector in recent years.
The Details of the Transaction
According to an announcement made on Wednesday, the assets will be transferred to a $280 million continuation fund managed by Portage. Portage is the fintech investment division of Sagard, a global alternative asset manager. A continuation fund is a type of private equity fund designed to transfer assets from an existing fund that is nearing the end of its term. The investment in the continuation fund is led by Goldman Sachs Alternatives.
As part of this deal, Tripp Shriner, a former partner at Point72 Ventures, has moved to Portage as a General Partner. In his new capacity, Shriner will oversee the continuation fund. He stated, “Portage’s deep expertise in financial technology, coupled with its global ecosystem and long-term perspective, creates an ideal environment for these companies to thrive.”
Portage and Point72 Ventures’ Agreement
In addition to the asset transfer, Portage and Point72 Ventures have also entered into a separate services agreement. Under this agreement, Portage will manage an undisclosed collection of assets owned by Point72 Ventures that are not being transferred to the continuation fund.
Adam Felesky, CEO of Portage, expressed his confidence in this arrangement, stating, “This transaction underscores our confidence in the strength of this fintech portfolio and the potential synergies with Portage’s existing investments.”
Point72 Ventures’ Fintech Divestment
Point72 Ventures has not disclosed the specific fintech companies involved in the transfer or the total number of fintech companies in its current portfolio. However, a representative from Portage confirmed that they would manage around 40 fintech and fintech-adjacent investments in the continuation fund.
According to data from CB Insights, a predictive intelligence firm, Point72 Ventures has backed a total of 56 fintech companies. Jason Saltzman, Head of Insights at CB Insights, explained that the fintech divestment by Point72 Ventures aligns with the broader trend of declining venture funding in the fintech sector.
He said, “The firm is reallocating capital toward higher-conviction opportunities in AI and defense tech, where funding momentum and strategic importance have accelerated dramatically. This is portfolio optimization in real time: exiting a category facing structural challenges to double down on sectors with stronger growth trajectories and clearer paths to liquidity.”
Notable Investments and Future Plans
Point72 Ventures’ portfolio includes investments in a variety of fintech companies, including Polymarket, a crypto-based prediction platform; Zerohash, a crypto infrastructure builder; Brightwave, an AI-powered financial chatbot; Tonik, a Philippine digital bank; and Ualá, an Argentine neobank.
Steven Cohen, with a net worth of $23 billion as of January 2026, is not only the majority owner of the New York Mets major league baseball team and an investor in Republic First Bank, but also the sole investor at Point72 Ventures. His firm’s strategic move to divest from fintech reflects a realignment of investment priorities toward sectors presenting higher growth potential and stronger paths to liquidity.
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