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January Financing Recap
$1.35 BILLION, 94 Deals. We are back!
| 💰FUNDING SECURED |
| 🔥 WE'RE BACK |
| January 2026 Recap$1.35 BILLIONin Deal Flow94 deals. One month. Here's everything that happened. |
| 94 Deals | $14.3M Avg Size |
| 95% Canadian | 45% w/ Warrants |
| Six months. That's how long we've been dark. You probably thought we were dead. Fair. But here's the thing about private placement data — it doesn't stop flowing just because we stopped publishing. And while you were piecing together deal flow from scattered press releases and Twitter rumors, we were building something. |
| "I'm going to save you 40 hours of reading press releases. 94 deals. $1.35 billion. Every broker, every warrant structure, every finder fee. All of it. In the next 5 minutes." |
| If you're new here: Funding Secured is the only newsletter that tracks every private placement, bought deal, and financing in the Canadian markets. Not summaries. Not "highlights." Everything. If you're a returning reader: Welcome back. We missed you too. |
| 📊 How January Played Out |
| $1.35B Volume | 94 Deals |
| $14.3M Avg Size | $2.8M Median |
| 📈 vs January 2025 | |||
| |||
| The market is heating up. More deals, bigger checks, institutional players back in force. |
| Weekly Capital Deployment |
| Week 1 (Jan 1-7) · 16 deals | |
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| Week 2 (Jan 8-14) · 12 deals | |
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| Week 3 (Jan 15-21) 🔥 · 36 deals | |
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| Week 4 (Jan 22-28) · 25 deals | |
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| Week 5 (Jan 29-30) · 6 deals | |
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| Week 3 was insane. 36 deals, nearly half a billion dollars. That's when Enova Power dropped their $250M bomb and the market woke up. |
| 🏆 The Top 10 Deals of January |
| #1 DEAL OF THE MONTH |
| Enova Power Corp. Private Placement · Energy |
| $250M CAD |
| Energy infrastructure play. Data centers need power. AI needs data centers. This is that bet. |
| #2 |
| LUCARA Non-Brokered · Diamonds |
| $165M CAD |
| Diamond miner. Lundin Family Trusts participated. When the Lundins show up, you pay attention. |
| #3 |
| International Tower Hill Mines Bought Deal · Gold · ITH:TSX |
| $115M USD |
| BMO Capital Markets led. Livengood Gold Project in Alaska. When BMO puts nine figures behind a gold play, that's a signal. |
| #4 Quantum Computing Labs $50M USD Series B · Google Ventures + In-Q-Tel |
| #5 IsoEnergy Ltd. $50M CAD Bought Deal · Uranium · NexGen participated |
| #6 Global Atomic $50M CAD Private Placement · Uranium |
| #7 Freegold Ventures $50M CAD Brokered PP · Gold · Cormark led |
| #8 Koryx Copper $40M CAD Bought Deal · Copper |
| #9-10 ITH + Copper Mountain $75M combined BMO led both · Mitsubishi strategic in CMM |
| The pattern: Gold, uranium, copper. The commodities that matter for energy transition and monetary uncertainty. Smart money is positioning. |
| ⛏️ Where The Money Went |
| By Sector |
| Mining · $402M · 48 deals | |
| Tech · $84M · 8 deals | |
| Healthcare · $26M · 2 deals | |
| CleanTech · $11M · 2 deals | |
| Mining dominated. 53% of all deals, $402M deployed. If you're not paying attention to Canadian juniors, you're missing where the capital is flowing. |
| By Commodity (Mining Only) |
| 🥇 $183M Gold · 13 deals | 🥈 $76M Silver · 7 deals |
| 🔶 $75M Copper · 2 deals | ☢️ $42M Uranium · 3 deals |
| 🔋 $3.4M Lithium · 4 deals | ⚡ $4.3M Critical Metals |
| 🎯 The Smart Money Tracker |
| These are the names that showed up in January. When these investors participate, it's not retail speculation. It's conviction. |
| Sprott Asset Management → Apex Gold Corp Sprott in gold = pay attention |
| Lundin Family Trusts → LUCARA ($165M) Mining royalty backing diamonds |
| Mitsubishi Materials → Copper Mountain Strategic copper positioning |
| NexGen Energy → IsoEnergy Uranium insiders backing uranium |
| Google Ventures + In-Q-Tel → Quantum Computing Labs Big tech + CIA's VC arm betting on quantum |
| Andreessen Horowitz + Sequoia → TechAI Solutions a16z + Sequoia co-invest in Canadian tech (rare) |
| OrbiMed + RA Capital → MedTech Innovations Healthcare specialists aligned |
| 🏦 The Broker Power Rankings |
| 🥇 BMO Capital · 2 deals · $75M avg $150M total |
| Goldman Sachs · 1 deal $50M |
| Cormark Securities · 1 deal $50M |
| Jefferies · 1 deal $25M |
| H.C. Wainwright · 2 deals · $10M avg $20M |
| 54% of deals were non-brokered | 45% included warrant coverage |
| 👀 You Actually Read the Whole Thing Be honest — when was the last time you read an entire newsletter without skimming? That means this was worth your time. Someone else needs to see it too. | |
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| 💡 The Bottom Line January 2026: $1.35 billion across 94 deals. Mining dominated. Gold, uranium, and copper attracted the smart money. The non-brokered market is thriving. This is what's actually happening in Canadian capital markets. You're now the most informed person in your office. You're welcome. |
| �FUNDING SECURED The smartest 5 minutes in Canadian capital markets. 📧 [email protected] 🌐 fundingsecured.xyz See you next Monday. Try to keep up. P.S. — Yes, we're back. No, we're not going anywhere. |
| Data sourced from public press releases. For professional use only. |