Upkar Arora, FCPA, FCA, ICD.D
CEO, Rally Assets Inc. and Co founder and CEO, Illumina Partners Inc., Director of VanCity Community Investment Bank, Governor of University of Waterloo’s Board of Governors, and Former Director of Metrolinx Inc., Director of Institute for Canadian Citizenship, Chair of University of Waterloo School of Accounting and Finance Advisory Council, Director of Why Not Theatre, Director, Advisory Board of Inner Analytics, Former Chair of McMichael Canadian Art Collection and Canadian Arts
Upkar Arora is the CEO of Rally Assets Inc. (formerly Purpose Capital Limited) an impact investment advisory firm that mobilizes all forms of capital to accelerate social progress.
Prior to Purpose Capital, Upkar founded and led Illumina Partners, a boutique advisory firm that specialized in strategy, operations, M&A and finance. During the past thirty years, through Illumina and in companies such as Onex, Nortel, Trizec and 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 experience working as an entrepreneur, business owner, or advisor in organizations small and large, domestic and international, private and public, for profit and not for profit.
Over the past nine years Upkar has channeled his energies to bring innovative thinking, informed by business experience, to solve complex social and environmental issues, use business as a force for good and fuel the movement of capital to impact investments – those designed to generate measurable, beneficial, social and/or environmental impact along with a financial return.
Upkar has served on the Boards of several organizations in areas such as education, health, arts and culture, transportation and infrastructure, citizenship and inclusion.
Upkar is an FCPA, FCA, having been awarded the accounting profession’s highest mark of distinction, the Fellow designation in 2017. He holds the ICD.D designation from the Institute of Corporate Directors through Rotman and is a BMW Foundation Global Responsible Leader. He obtained his Bachelor’s and Master’s degrees in accounting and economics from the University of Waterloo. As adjunct lecturer at the University of Waterloo, he teaches “Success beyond the Classroom – Conversations and Perspectives”, a course he created in 2014 to help students develop the leadership skills that really matter in a rapidly changing world.