We examine the creation of social capital by serial/portfolio and lifestyle immigrant entrepreneurs through ethnic and sports associations. Interviews with 24 self-employed immigrants to Canada form the basis of a grounded model. Serial/portfolio and lifestyle immigrant entrepreneurs appear to harness ethnic and sports associations through similar means, but it is the speed and intensity with which they combine their activities — and the goals they pursue — that mark their differences. Serial/portfolio entrepreneurs intertwine a denser set of activities more actively to support business generation, resulting in a more diverse matrix of social capital.