Business-backed think tanks are often presented as representing the interests of economic elites. This article provides a more nuanced argument by using field theory to present the co-evolutionary dynamics between economic elites and other social forces. Three Canadian think tanks are examined to illustrate how different social forces can converge around business-backed think tanks, and how governance contexts and institutions shape these relationships. The paper also reflects on the kinds of learning these think tanks can enable depending on the kinds of actors that converge around them and on the forms of power that these actors represent.