Mogo Launches Mogo Ventures, Manages C$124M Portfolio
Annie Li Mar 23, 2022 16:00
Canada-based fintech company Mogo Inc has created new venture capital Mogo Ventures to manage its C$124 million ($99 million) portfolio.
Canada-based fintech company Mogo Inc has created new venture capital Mogo Ventures to manage its C$124 million ($99 million) portfolio.
President and Chief Financial Officer Greg Feller said
"Over the past several years Mogo has been able to leverage its leadership position in the Canadian fintech industry to make attractive strategic investments in a number of leading and emerging players in the broader crypto, Web3 and gaming ecosystems, and today's announcement highlights the significant value that these investments now represent for Mogo shareholders,”
Of the total portfolio value of C$124 million, as of December 31, 2021, C$103.8 million came from a 39% stake in the Canadian cryptocurrency exchange Coinsquare.
There is also CAD 1.7 million in digital assets (Bitcoin and Ether). The remaining funds will be invested in emerging crypto and Web3 platforms such as Gemini, NFT Trader and Tetra Trust.
In addition to this, it has also invested in gaming companies such as Enthusiast Gaming (EGLX) and Eleven Gaming.
The newly formed Mogo Ventures will be co-led by Greg Feller and an investment committee chaired by seasoned investor and trader Michael Wekerle.
The committee also includes Mogo board member Canadian venture capitalist Liam Cheung, chief innovation officer Phil Barrar and chief legal officer Alice Davidson among others.
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