Upkar Arora is a recognized leader at the intersection of finance, systems change, and social innovation. As CEO of Rally Assets, Canada’s foremost impact investment firm, he brings a bold and strategic approach to reimagining how capital can serve people and the planet. Rally, a certified B Corporation, is dedicated to shifting capital systems to deliver sustainability, equity, and justice. Through its subsidiary, Realize Capital Partners, the firm is one of only three managers selected to deploy the Government of Canada’s groundbreaking $400 million Social Finance Fund.
With over four decades of experience spanning private and social sectors, Upkar applies a systems lens to transformative change. Prior to Rally, he held senior leadership roles with some of Canada’s most respected businesses, philanthropists, and families —building, operating, and advising organizations across industries, geographies, and stages of growth.
A passionate advocate for strong governance, Upkar has served on more than a dozen boards, including Meridian Credit Union, Metrolinx, Vancity Community Investment Bank, University of Waterloo, the Advisory Board of Social Capital Partners, and the Wolf Willow Institute for Systems Learning, a platform dedicated to cultivating the leadership capabilities required to address our most critical and complex socio-ecological challenges.
Upkar holds the ICD.D designation, is a Fellow Chartered Professional Accountant (FCPA, FCA), and earned his Bachelor’s and Master’s degrees in Accounting and Economics from the University of Waterloo, where he now serves as an adjunct lecturer and was awarded the Distinguished Teacher Award in 2022. He is also a BMW Foundation Global Responsible Leader.
At the Victoria Forum, Upkar brings a voice of optimism, clarity, and action, inviting dialogue on how capital, leadership, and governance can be reimagined to help bridge divides and build a more inclusive future.