TORONTO – Purpose Capital is pleased to announce that Upkar Arora has joined the firm as CEO and investor.
In addition to supporting Purpose Capital’s existing team on our
innovative mandates and existing clients, this will significantly
strengthen the firm’s leadership, experience and investment capacity. It
will deepen the firm’s work in impact investment advisory services and
will enable development of new tools and capabilities for directing
capital towards pressing social and environmental issues.
“The time was right to expand our capabilities and take our firm to the
next level,” said co- founder Norm Tasevski. “The impact economy has
grown in size and sophistication since we founded the firm in 2010,
requiring us to bring in more seasoned leadership in order to evolve and
enhance our contribution to the sector’s growth.”
“Over the last seven years, Purpose Capital has grown to become a
trusted advisor to leading impact investors – including individuals,
foundations, family offices, financial institutions, and governments
across Canada and the US. This has allowed us to attract someone of
Upkar’s caliber”, noted Karim Harji, co-founder.
“Upkar brings a passion for finding new ways to address social issues
along with governance expertise, private sector experience in finance,
capital markets, operations and strategy. His experience working as an
entrepreneur, business owner, or advisor in organizations small and
large, domestic and international and private and public, makes Upkar an
ideal fit for our future aspirations,” said Assaf Weisz, co-founder.
“I am committing my time and my capital to Purpose Capital because it is
a proven and trusted brand through which we can deliver innovative
solutions to help address the critical social issues we face” added
Upkar Arora. “By bringing diverse perspectives, a collaborative approach
and committed stakeholders, such as the co-founders, Advisory Board,
our great team, clients and others, we can deliver meaningful impact in a
developing sector. Our team will continue to focus on our core
strengths of market leadership in impact investing and quality service
while accelerating our efforts to encourage new players in new markets
to participate in the sector.”
Prior to joining Purpose Capital, Upkar founded and led Illumina
Partners, a boutique advisory firm that specialized in strategy,
operations, M&A and finance since 2002. During the past thirty
years, at Illumina and in companies such as Onex, Nortel, Trizec &
Olympia & York, he has worked in a number of senior roles with some
of Canada’s most successful entrepreneurs. He has acquired, operated and
advised companies in Canada, the United States, Mexico and Europe and
has completed more than $20 billion of mergers, acquisitions,
restructurings, dispositions and financings.
He has also been actively engaged in the social finance sector over the
past seven years, investing in enterprises committed to social impact
and generating positive, scalable and sustainable change in our
communities. To date he has made investments in community bonds, social
impact bonds and renewable energy.
Upkar will reach out to Purpose Capital’s stakeholders in the weeks
ahead to formally introduce himself and explore areas of mutual
interest.
About Purpose Capital
Purpose Capital is an impact investment advisory firm that mobilizes all
forms of capital — financial, physical, human and social — to
accelerate social progress. The company was formed in 2010 to bridge the
divide between businesses and organizations that matter to the world,
and investors seeking a blend of compelling financial returns and
tangible social impact. We work with investors and their advisors to
design and deploy customized impact investment strategies spanning
sectors, asset classes, and regulatory systems. We design and partner
with leading organizations to launch investment opportunities and
market-building initiatives for the impact economy.
About Upkar Arora
In addition to his professional commitments, Upkar has been actively
engaged in organizations that strive to make our communities more
vibrant – in areas such as arts and culture, education, transportation
and infrastructure, sports, citizenship and inclusion through
organizations such as:
- Board Member – University of Waterloo’s Board of Governors
- Director – Metrolinx Inc.
- Director – Institute for Canadian Citizenship
- Chair, Advisory Council – University of Waterloo School of Accounting and Finance
- Board Director – Why Not Theatre
- Past Chair – McMichael Canadian Art Collection, Canadian Arts Summit
Upkar is a CPA, CA and holds the ICD.D designation from the Institute of
Corporate Directors. He graduated with a Master’s degree from
University of Waterloo’s School of Accounting and Finance where he has
also taught for the past four years.
Contact us
info@purposecap.com
416 624-8349
www.purposecap.com