Fintech Firm Mogo Forms Ventures Unit to Manage Its Mostly Crypto-Related Investments

Among Mogo’s investments are a 39% stake in crypto exchange Coinsquare, and holdings of bitcoin and ether.

AccessTimeIconMar 23, 2022 at 3:27 p.m. UTC
Updated May 11, 2023 at 7:11 p.m. UTC

Canadian fintech company Mogo (MOGO) created Mogo Ventures to manage its C$124 million (US$99 million) investment portfolio.

  • Mogo Ventures will be led by Mogo CEO Greg Feller, along with a newly formed investment committee helmed by veteran investor and trader Michael Wekerle, according to a company statement.
  • Of the C$124 million portfolio, C$103.8 million is from a 39% stake in Canadian crypto exchange Coinsquare. There’s also C$1.7 million of bitcoin (BTC) and ether (ETH) holdings. Investments in crypto and Web 3 platforms such as Gemini, NFT Trader and Tetra Trust, as well as stakes in Enthusiast Gaming (EGLX) and Eleven Gaming account for the remainder.
  • Mogo’s shares are up nearly 20% in Nasdaq trading on Wednesday following the company reporting a 70% year-over-year gain in revenue in Q4 to a record C$17 million, as well as a buyback plan of up to $10 million in stock.
  • “While our primary focus is to invest in our platform and new products, the market volatility may continue to present attractive buying conditions periodically,” Feller said in the earnings statement. “Our strong balance sheet puts us in a position to take advantage of those situations on behalf of our shareholders.”


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Author placeholder image

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.