TORONTO — TORONTO -- Members of Canada’s business community gathered for an technology conference Wednesday called on institutional investors to take their patriotism even further than they currently do when it comes to their portfolios.
As the country’s trade war with the U.S. rages on and sparks interest in homegrown enterprises, speakers at the Nrth conference urged pension funds, investors, banks, the government and regulators to do more to support domestic companies.
“We should bask in the glow of being the sexy underdogs of the world right now and push harder,” said Vass Bednar, the executive director of the Canadian Shield, a think tank that promotes sovereignty-based policy solutions.
She took aim at the country’s pension funds, pointing out they have invested less domestically despite their coffers growing.
When they do in invest in Canada, Bednar said they tend to “play it safe” and take the “pretty lazy” route of putting money into government bonds and infrastructure. Bednar argued the pension funds should be bolder and perhaps ascribe to a mantra from an American drag queen.
“If I can just connect the pensions to RuPaul for a second, if you don’t love yourself, how the hell are you going to love somebody else?” Bednar said.
Meanwhile, her co-panellist, North Exit Ventures general partner Tal Schwartz, wants to see changes from policymakers and investors.
He said the country needs to adjust its tax policies and capital allocation so startups reach their mid to late stages and investors feel incentivized to back businesses in high-risk industries.
“Often we’re investing in companies before there is a company, but in order for that company to then scale and retain its Canadian identity and presence, it needs access to later-stage investment as well,” Schwartz said.
“That’s an area that Canada... Is a bit of a labyrinth.”
He pointed to Portage, a global fintech investment firm based in Toronto, that closed its fourth venture capital fund at about US$600 million earlier this month.
“That’s fantastic,” he said, but the country “needs a dozen of those in order to support some of the innovation that we have here.”
Bednar and Schwartz’s remarks came at Nrth, which rebranded this week from its past name Elevate.
Organizers decided to change the name because they say the tech industry has transformed since Elevate’s conception in 2017, and they want the event to evolve as well.
In addition to rebranding the three-day conference, organizers say they also have plans to host more frequent events starting in 2027.
Over the next two days, executives from Canadian artificial intelligence firm Cohere, social media platform Reddit, cryptocurrency business Coinbase and geography tool MapQuest are expected to appear at Nrth.
This report by The Canadian Press was first published Sept. 23, 2026.
By Tara Deschamps
Correction
This is a corrected story. An earlier version incorrectly stated the date for Elevate’s origins.
