Portage is a fintech-focused venture fund that invests globally, with two different strategies: early-stage investing (seed to B) and growth-oriented investing (late stage).

I spoke to Stephanie Choo, general partner at Portage as part of a LinkedIn Live session. She shared the impact that the drop in venture capital funding has had on the sector and fintechs, with fundraising down around 70% year over year and deal volume down 30% to 40%.

But despite the tech recession, the venture capital investor believes that consumer balance sheets are stronger than she expected, opening up new opportunities in the fintech space. Steph also shared that the fall of SVB and First Republic, though disruptive, are catalysts for new firms to step in and serve SMBs and tech companies.

Portage is thematically-driven, investigating and investing along two or three theses at any given time. Steph mentions two interests right now: the intersection between fintech and climate, and artificial general intelligence.

Steph shared several highlights in the Portage portfolio, including Tallied, a modern payment processor, and global investments in investing and insurance.

Here's my conversation with Portage's Steph Choo.