The flood gates are opening and tens of millions of dollars are pouring into the cannabis industry
By Green Bits
Americans’ attitudes toward marijuana are rapidly evolving, as evidenced by the growing number of legalization and anti-prohibition efforts currently under way in a majority of US states. Meanwhile, the regulatory foundations of state programs, while shaky at times, are beginning to sure up. With both California's and Canada’s recreational programs coming online within the next year, many believe the dam is about to break.
The trend toward legalization is creating a wide array of investment opportunities. In the past year, wealthy venture capitalists have been opening up their checkbooks and pouring tens of millions of dollars into the cannabiz in a bid to capitalize on this “Green Rush.” And it seems that the torrent of capital won’t be subsiding anytime soon.
Among the noted investors are Peter Thiel, co-founder of PayPal. Thiel is no stranger to biotech and made a fortune with the cancer drug startup Stemcentrx. Thiel’sFounders Fund has sent millions toPrivateer Holdings, a Seattle-based private equity firm that backs research into medical marijuana products, among other cannabis-related ventures. Many see Thiel’s foray into cannabis as the first public endorsement of the industry from a major biotech investor.