$581M In Deals: Top States Draw Major Cannabis Investments Despite Market Downturn
In the latest report from Viridian Capital Advisors, investment trends in the U.S. cannabis industry show a marked decrease, despite significant capital inflows in leading states such as California, New York and Massachusetts.
Over the last twelve months (LTM) ending May 3, 2024, there has been a noticeable downturn in both the number and volume of capital raises across the country.
Leading States Navigate Market Headwinds As Investment Slows
California remains at the forefront, ranking first with $320.16 million raised through 20 transactions. This positioning highlights the state’s ongoing dominance in attracting cannabis investment, albeit a 23.1% decrease in transaction volume from the previous year. New York follows, securing $174.62 million from 11 capital raises, a sharp decline of 54.6% in funds raised compared to the previous LTM period.
Massachusetts, in third place, gathered $86.53 million, a 33.3% decrease in investment volume. Such figures …