The cannabis industry registered US$1.23 billion in investments during January alone, according to Viridian Cannabis Deal Tracker – almost the total amount of money invested in the industry throughout 2016, which was US$1.29 billion.
Compared to the first five weeks of 2017, this year’s investments represent nearly 600 percent growth.
Viridian Capital Advisors’ Vice President Harrison Phillips told Benzinga: “We are seeing a steady maturation of the capital markets around the cannabis industry… Early on, it was almost entirely high net worth individuals – and maybe a few family offices – investing in the cannabis space. Now, we are seeing more family offices getting involved, more high net worth individuals, more professional investors getting involved.”
Of the five largest capital raises, four are related to Canadian companies which produce and distribute medical marijuana and an equity firm based in Seattle, in the United States, which invests in the legal cannabis industry worldwide.
In Canada, regulated medicinal marijuana became legal in 2001 and recreational use is on the verge of being legalized after legislation was passed by the federal House of Commons in November 2017. It still requires Senate approval. [Read more at teleSUR]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
Big Island Grown (BIG) is a vertically integrated cannabis company based in Kailua-Kona, Hawaii County, on the Big Island of Hawaii, whose reach now extends to several islands in the…
There are three primary ways that brands can use social media platforms for marketing: organic posts, shared posts, and paid posts. With paid posts still off limits to most businesses…
By Aaron Pelley, Attorney at Harris Sliwoski Despite continuously surpassing every other state with recreational cannabis in terms of total retail sales, California’s cannabis industry has faced continuous and far-reaching…
The difference between medicinal and recreational marijuana has always been arbitrary. For example, after legalizing recreational cannabis, California initially required each cultivated seedling to be designated by growers as either…