April 3-Day 1 of the 2019 Fintech & Financing Conference in Toronto at venue partner Gowling WLG Office. Brady Fletcher, MD & Head of TSX Venture Exchange talks about how US VC industry is being disrupted, how the early stage funding gap is real and growing, the growth in Canadian VC markets, how companies are remaining private longer than ever (10 years from first funding to IPO) and alternative finance activity in the Americas. More info https://www.tsx.com/ https://fintechandfunding.com/ https://ncfacanada.org/

1. NCFA #FFCON2019
DEMOCRATIZATION OF VC &
THE OPPORTUNITY AHEAD
©2018 TSX Inc. All rights reserved.

2. Growth of US Venture Capital Industry Fostering
Disruptive New Technologies
2

3. Early Stage Funding Gap is Real and Growing
3

4. Canada’s Growing VC Industry
4

5. Companies Raising More Prior to IPO
5
Median time between first funding and IPO:
10.1 YEARS

6. Potential 2019 IPOs to Create Liquidity for Early Stage
Investors – May Help Increase Early Stage Funding
6

7. The Need for Democratization – Returns from Growth of
These Companies Centralized to Select Few Investors
7

8. Public Demonstrating Risk Appetite & Demand
8

9. Alternative Finance in the Americas Activity Growing
9University of Cambridge – Judge Business School
“Reaching New Heights – 3rd Americas Alternative Finance Industry Report”

10. Equity Crowdfunding Lagging (All in $B)
10
University of Cambridge – Judge Business School
“Reaching New Heights – 3rd Americas Alternative Finance Industry Report”
$260m

11. TSX Venture Exchange
The Original Crowdfunding Model
11
$6.8B EQUITY CAPITAL
RAISED
12SECTORS
1,707COMPANIES
1,701FINANCINGS
Source: TSX/TSXV Market Intelligence Group. As at December 31, 2018.

12. Globally Unique Two Tiered Markets
12
TSX
Venture Exchange
Toronto Stock
Exchange
Public Venture Capital Success
• 650+ companies
that listed on TSXV
have graduated to TSX
• 20% of S&P/TSX**
Composite Index constituents
are graduates from TSXV
**The S&P/TSX Composite Index is the product of S&P Dow Jones Indices LLC (“SPDJI”) and TSX Inc. (“TSX”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial
Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and TSX® is a registered trademark of TSX. SPDJI, Dow Jones, S&P and TSX do not
sponsor, endorse, sell or promote any products based on the S&P/TSX Indices and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have
any liability for any errors, omissions or interruptions of the S&P/TSX Indices or any data related thereto.

13. Best Access to Follow On Funding Rounds
13

14. TSXV Growing Innovation Sector Leaders
14

15. TSXV Provides Access to Global Capital Markets
15
$125 Trillion Global Equity Capital Markets

16. The Opportunity Ahead
Public Markets Embracing New Technologies
16

17. 17
TSX
Venture
Exchange
Ecosystem
Deal
makers
Retail
investors
and brokers
Independent
investment
dealers
Data
providersCommunities
Regulators Media
Fintech
Players
Crowd
funding
ICOs
Reg
Tech
Big
Data
AI
Social
Media
CPC
Program
Angel
Community
Alt
Finance