back Back

Mogo announces the formation of Mogo Ventures to manage its $124m investment portfolio

By Joy Dumasia

March 25, 2022

  •  Mogo
  • Alida
  • Americas
Share

Mogo, one of Canada’s leading financial technology companies, announced the formation of Mogo Ventures to manage its existing investments in strategic partners and companies that support Mogo’s ecosystem, including:

  • A 39% stake in Coinsquare, one of Canada’s leading crypto exchanges.
  • Investments in leading and emerging crypto and Web3 platforms including Gemini, NFT Trader and Tetra Trust.
  • Investments in gaming companies including Enthusiast Gaming and Eleven Gaming.
  • Investments in Bitcoin and Ether.

Mogo Ventures will also manage the company’s portfolio of legacy investments, including its investments in Hootsuite, Blue Ant Media and Alida, with a focus on monetizing these investments.

Greg Feller, President & CFO, 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. As we continue to build out Canada’s leading financial technology and payments platform, we will continue to look for ways to participate in value creation opportunities with our partners that drive incremental shareholder value.”

Mogo Ventures will be led by Greg Feller and a newly formed investment committee chaired by Michael Wekerle, a seasoned investor and trader who was previously co-founder and partner of Griffiths McBurney & Partners’ sales and trading operations and Vice Chairman of Institutional Trading at GMP Securities. The committee will also include Mogo board member and experienced Canadian venture investor Liam Cheung, founder of growth venture capital firm Tactico, who prior to the acquisition by Mogo was the Executive Chairman of Moka and previously the CEO of Tactex Asset Management. The investment committee will also include Mogo management members Phil Barrar, Chief Innovation Officer, and Alice Davidson, Chief Legal Officer.

Recently, IBS Intelligence reported that Mogo, digital payments and financial technology company, announced that Allan Smith, a recent addition to Mogo’s executive team, has been appointed Head of Carta Worldwide, Mogo’s digital payments subsidiary.

Previous Article

March 25, 2022

Sellsy announced acquiring RocketChart, a cash management solution for SMEs

Read More
Next Article

March 28, 2022

Tabadul integrates Wthaq platform to SABB banking system

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

 Mogo

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Airwallex obtains AFSL for expansion into retail investment offering

Read More

July 18, 2024

DIFISOFT & Quantit develop AI-based financial solutions in Southeast Asia

Read More

July 17, 2024

Webull UK launches Webull Savings

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024