For investors searching for the next generation of Canadian growth companies, the President of TSXV has a simple message.

“Tomorrow’s giants will be listed and incubated on TSX Venture Exchange,” says Creech. “It is a great place to find tomorrow’s growth stories.”

Halfway through 2026, there is growing evidence behind that confidence.

Capital began returning to Canada’s venture market around the middle of last year, Creech says, led by renewed investor appetite for mining, critical minerals, battery metals, and precious metals. By July 2026, TSXV issuers had raised about $7.6 billion year-to-date, putting the exchange on pace for another strong financing year.

Mining has been at the centre of that resurgence. Creech says over $9 billion in mining capital was raised across Toronto Stock Exchange (TSX) and TSXV in the first half of 2026, pointing to the scale of investor interest flowing back into the sector.

The broader numbers reinforce that shift.

The 2026 TSX Venture 50, the Exchange’s annual ranking of its top-performing companies, was heavily weighted toward mining, with 48 of 51 ranked companies coming from the sector. Collectively, Venture 50 companies raised $1.5 billion in equity capital during 2025 and generated approximately $13.5 billion in total trading value. The group recorded an average market-capitalization increase of 775%.

Mining captured 95% of the capital raised by Venture 50 companies, underscoring where investors have been most willing to put risk capital to work. TMX’s own analysis says investors are increasingly focused on execution, liquidity, capital efficiency, and companies that can demonstrate a credible path toward self-sufficiency.

But Creech argues the TSXV story is larger than the latest mining cycle.

About 25 years ago, he says, the Exchange had an overall market capitalization of roughly $15 billion. Today, it is closer to $130 billion. That growth has occurred even as close to 800 Venture companies have graduated to the senior board TSX over the past 25 years.

That pipeline is central to the two-tiered ecosystem built by TMX Group, which operates both TSX and TSXV. Companies can start their public markets journey through TSXV, build a shareholder base, raise capital, and learn the demands of operating as a public issuer. Those that grow sufficiently can graduate to TSX and, in some cases, eventually interlist on larger international markets.

The model also reaches well beyond Canada. Creech says entrepreneurs from Europe, Latin America, and Australia are among those seeking direct listings or interlistings through TSXV, giving emerging companies access to Canada’s capital markets while giving Canadian investors exposure to growth stories from around the world.

The second half of 2026 will test how far the renewed appetite for venture capital can spread.

Mining remains the clear leader, supported by demand for critical and battery minerals and precious metals, but Creech says activity is also appearing elsewhere. The recent Apotex IPO on TSX raised approximately $1.3 billion in the life sciences sector, while innovation companies continue to access capital.

For TSXV, providing a listing venue is only part of that process.

The Exchange is increasingly focused on bringing issuers and investors together through investor days, U.S. and Latin American roadshows, education programs, and events such as the TSX Venture Growth Capital Event organized by CEM.

The seventh annual event in Kelowna in July brought together 50 listed companies and about 50 retail advisors and institutional investors. It also marked CEM’s 100th capital event.

Creech says these CEM meetings matter because market data can show where money is moving, but direct conversations reveal what issuers, investors, and advisors are actually seeing.

Investor Breakout spoke with Creech about the return of capital, where investors are looking, the Venture-to-TSX pipeline, and what he believes investors should watch through the rest of 2026.

“Last summer, capital started coming back into the marketplace, particularly around mining, critical minerals, battery minerals, and precious metals.

We have seen record market capitalization across mining on TSX and TSXV, while the innovation sector has also reached an all-time high.

It has certainly been a mining market, but both areas are performing well. 2025 was one of the top five financing years of the last 25 years and one of the top three of the last 15. Through July, our issuers had already raised $7.6 billion in 2026, so we are tracking toward another strong year.”

“I would say it is a diverse return to market.

There is a critical shortage of a lot of key metals, and we are seeing many issuers able to finance right now. That has not always been the case.

It is definitely mining-focused, but we are also seeing innovation companies accessing the capital markets.

The recent Apotex IPO on TSX raised approximately $1.3 billion in life sciences, which demonstrates that there is capital available for strong companies across different sectors.”

“Everybody effectively holds a supercomputer in their palm today and can access disclosure records and company information very quickly.

That gives both retail and institutional investors a much greater ability to conduct due diligence on individual issuers.

Running a public company comes with costs and responsibilities, but the advantage is access to a broader pool of capital that can help management teams fund and grow their businesses.”

“Canada has a unique two-tiered model.

We help entrepreneurs list on TSXV and learn how to operate a public company. Once they execute on their business plans and grow their businesses, they may graduate to TSX.

From there, some can eventually interlist on larger markets internationally.

Over the last 25 years, we have had close to 800 graduations from TSXV to TSX.

What is interesting is that even while many of our companies have graduated, TSXV has continued to replenish itself with new listings. During roughly the same period in which our market capitalization grew from about $15 billion to approximately $130 billion, we also graduated close to 800 issuers.

That demonstrates the ability of the market to continually renew itself.”

“I think it is critically important.

Our issuers conduct their own investor relations, but TSXV and TSX also invest in the broader ecosystem.

We recently partnered with CEM on the Kelowna Capital Growth Conference, bringing together 50 listed issuers with approximately 50 retail advisors and institutional investors so they could network and potentially develop financing relationships.

We also conduct U.S. roadshows — we have a Latin American roadshow planned through Argentina and Chile — and we run TSX Investor Days that bring issuers directly in front of investors.

We also offer a free Growth Accelerator program covering subjects ranging from post-listing transactions and investor relations to understanding trading activity.

The objective is to invest in management teams and support our issuers as they grow.”

“With the business partners we work with, we want to work with organizations that share the same ethos as TMX, which is to make markets better, support bold ideas, and focus on our clients.

We are investing in the marketplace to make sure our issuers have places where they can grow and succeed.”

“Whenever TSXV staff attend these events, we are looking to meet with our constituents, whether they are deal advisors, issuers, C-suite executives, or investors.

Having conversations about what is happening in the marketplace is valuable to us. It helps inform policy and also helps us understand how well we are meeting the needs of our customers.”

“Tomorrow’s giants will be listed and incubated on  TSX Venture Exchange.

It is a great place to find tomorrow’s growth stories.”

Warm Regards and Happy Investing,

Fabian Dawson

Each week, CEM Partner and Portfolio Manager, Ryan Iverson, spotlights the ideas and companies sparking investor interest form emerging growth stories to the Top Pick featured across CEM’s Capital Events. This series brings real insights from the annotators shaping tomorrow’s markets and reveals where investors are finding the next breakout opportunities.

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