“The broader diversity of the venture market continues,” said Tim Babcock, president of the TSX Venture Exchange, in an interview.
“There are times where we are seeing innovation sectors be hotter in the market, be more interesting for investors,” he said. “Then, at times, mining is more interesting.”
Ranking showcases small-cap companies from five sectors
The TSX Venture 50 list, released on Wednesday, showcases small-cap issuers across energy, mining, clean technology and life sciences, diversified industries, and technology.
The companies are ranked by their 2024 performance in three areas: market capitalization growth, share price appreciation and Canadian consolidated trading value.
Collectively, the TSX Venture 50 companies had a combined market capitalization of $21.7 billion as of the end of last year, up 289% year-over-year.
The companies also delivered an average share price appreciation of 207%, far outpacing growth seen in 2023 and 2022.
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Tech, mining and resource firms dominate 2025 ranking
The company that took the overall top spot was Newfoundland-based marine tech firm Kraken Robotics Inc. Its market cap soared 437% in 2024, adding more than $587 million. The company made its fourth appearance on the TSX Venture 50 list since its debut on the Venture Exchange in 2015, with an initial valuation of $10.6 million.
Thirty-one of the top 50 spots on the list were dominated by mining companies, with many of them focused on critical minerals—nickel, copper and uranium—as well as precious metals.
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