Joe Canavan on what it takes to build lasting wealth |
By MoneySense Editors on May 7, 2026 Estimated reading time: 6 minutes
Joe Canavan on what it takes to build lasting wealth
By MoneySense Editors on May 7, 2026 Estimated reading time: 6 minutes
Venture capitalist Joe Canavan discusses how wealth is built, why discipline matters more than luck, and what Canadians often misunderstand about long-term financial success.
Joe Canavan is a Canadian venture capitalist and Principal of Canavan Capital, recently named Angel of the Year by the National Angel Capital Organization. He was an early backer in companies like Wealthsimple, KOHO, and Borrowell, and scaled Fidelity Investment Canada’s assets from $60 million to $6 billion.
Joe sat down to share his perspective on money, from early lessons that shaped his thinking to the habits and misconceptions he believes most influence long-term financial success.
Who are your financial heroes?
John Fisher. Mark Andreessen. Vanad Khosla. I also admire Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg from the All-In podcast.
The common thread with all these people is that they believe in entrepreneurship. They believe in innovation, creation, and making the world better and more successful. They believe in betting on founders even though there is an 80% chance of failure.
How do you like to spend your free time?
I travel a lot; I’m constantly jumping on planes, experiencing new places through wine and food, but also through investing. When I’m in San Francisco, I’m there to explore, but just as much to get a sense of what’s happening in technology and artificial intelligence (AI). When I was in Austin recently, it was as much about the music and energy as it was about understanding the evolving playbook around taxation, innovation, and how Canadian and American startups are building. Wherever I go, I’m always trying to get a deeper sense of local communities.
If money were no object, what would you be doing right now?
I’m lucky enough to be doing it!
Earn 1.50% tax-free on your cash savings.
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