Fred Di Blasio is the co-founder of Longhouse Capital Partners, which is part of a new wave of Indigenous-owned financial firms working toward economic reconciliation.Celina Koops/The Globe and Mail
Indigenous-owned financial firms are beginning to make their mark in Canada, contributing to First Nations’ pursuit of economic self-determination. Take Longhouse Capital Partners, a Vancouver-based, Indigenous-owned asset manager. Founded in 2022, Longhouse is now raising capital to build a $1-billion fund dedicated to financing major infrastructure projects for First Nations communities, such as transmission lines and wireless towers.
According to Fred Di Blasio, co-founder of Longhouse Capital Partners and a proud member of the Huron-Wendat Nation, the firm is already two-thirds of the way to their first target of $300 million. He and his team are advancing their goal with help from a major Canadian bank: In April 2025, CIBC and Longhouse announced a strategic relationship, with the bank introducing clients who may invest in Longhouse.
“CIBC has a whole host of different institutional clients: institutional investors, pension plans, endowments and insurance companies that buy products like ours,” Mr. Di Blasio says of the partnership, adding that the bank’s endorsement gives his firm valuable credibility. “You will be taken more seriously, more quickly, because of the partnership. It’s invaluable for an emerging asset manager like Longhouse.”
Mr. Di Blasio says that CIBC has already facilitated multiple conversations with potential investors, adding that without their help, these discussions would have taken much longer to set up or wouldn’t have taken place at all.
“We’re highly confident that it will result in us successfully getting institutional capital from CIBC’s clients for Longhouse,” he says.
Longhouse isn’t the only Indigenous-owned financial firm partnering with a Big Five bank. In October 2024, Cedar Leaf Capital launched with support from Scotiabank, becoming the country’s first majority Indigenous-owned investment dealer. Cedar Leaf was formed with three First Nations partners: Nch’ḵay̓ Development, Des Nedhe Group and Chippewas of Rama First Nation. Mindy Wight, CEO of Nch’ḵay̓ Development, the economic development arm of the Squamish Nation, saw the partnership as a meaningful step towards economic reconciliation.
“I personally found it interesting to have more Indigenous representation in that space,” explains Ms. Wight, a proud member of the Squamish Nation.
To Mr. DiBlasio, more is better. “If, in ten years from now, there are five other Longhouses, I think that’s a success,” he says.Celina Koops/The Globe and Mail
One of Cedar Leaf’s goals is to develop more Indigenous talent in finance, encouraging greater representation now and in the future. “That’s why I found it so innovative that Scotiabank seemed to truly understand and want to embrace Indigenous values and our perspectives in the creation of the organization and as part of economic reconciliation,” she says. “We thought that it was a good fit with what Nch’ḵay̓ is pursuing as well.”
Nch’ḵay̓’s ventures show the scale of development possible when First Nations have access to funding. For example, Sen̓áḵw is a 10.5-acre development of 11 towers and 6,000 rental properties, including 250 units for Squamish people, alongside public space and commercial properties. The first phase is set to open in 2026.
“It’s really showcasing that a First Nation can develop projects of this size and scale, working with the right partners to make the project a success,” says Ms. Wight. At its peak, Sen̓áḵw also achieved a rate of 25 to 69 per cent of on-site Indigenous workers on the project, with up to 21 per cent of them being Squamish people.
By partnering with First Nations and Indigenous-owned financial firms to support major projects, big banks can help move economic reconciliation forward.
“For too long, we were just shunted aside and told to be ignored,” Mr. Di Blasio says. “By working together, we can not only foster better communication, have a deeper understanding of each other, but also develop this country on a basis that is materially valuable for all of us.”
As Canada advances on the path towards economic reconciliation, he envisions an ecosystem where Longhouse competes alongside other Indigenous-owned financial organizations. He hopes more major banks pursue partnerships with Indigenous firms, offering them the added credibility of a Big Five bank endorsement.
“We would happily compete with others,” says Mr. Di Blasio. “If, in ten years from now, there are five other Longhouses, I think that’s a success.”
One in a regular series of stories. To read more, visit our Indigenous Enterprises section. If you have suggestions for future stories, reach out to IE@globeandmail.com.