I have just returned from an action-packed week in sunny Ottawa.
In addition to the election, there was also the NACO Summit, where I had the opportunity to speak with Joe Canavan, Canada’s 2025 angel of the year.
“I feel like doing this is one of the greatest gifts of my life. Working with these people energizes me.”
Joe Canavan
If you don’t know Mr. Canavan, he has a storied history in financial services, leading several firms, including Assante Wealth Management and Fidelity Investments Canada.
He’s also an early investor in Layer 6, Koho, Borrowell, Wealthsimple, and a bunch of other Canadian tech companies with a financial services bent, in addition to being the former CEO of Next Canada.
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Onstage at NACO Summit, we talked a lot about what drew him to tech investing and the value he tried to add as an investor and a mentor. Our conversation was recorded the day after the federal election, so we also discussed the current political moment and what Canavan feels Canada must do to solve its productivity, economic sovereignty, and sovereignty sovereignty problems.
If in the first part of this conversation, Canavan inspires with energy and enthusiasm, he is pointed in his criticisms in the second part (apologies to Sheldon Levy and Chrystia Freeland). But it all comes from a place of passion for Canadian tech’s potential, and a desire to see Canada become an ‘innovation nation’ by 2034. According to Canavan, he has the whole plan all laid out.
So what is the 2025 angel investor of the year’s plan for Canadian tech?
Let’s dig in.
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The BetaKit Podcast is edited by Darian MacDonald. Feature image courtesy NACO.