Source: ganjapreneur.com
According to Viridian Capital Advisors’ Cannabis Deal Tracker, investments in most sectors of the legal cannabis industry are up so far in 2017, with cultivation and retail investments leading the way.
According to the report, as of Sept. 29, investments in the space are so far more than double the 2016 figures, with total investments reaching $1,809,416,206 through the end of Q3 this year compared to $720,041,586 through the end of Q3 last year.
Cultivation and retail business investments are already nearly four times 2016 figures, the report says, at $718,762,031 at the end of September, compared to $190,359,138 in 2016. Agriculture technology also saw a significant increase, from $5,606,622 last year to $43,805,617 so far this year. Software and media investments more than doubled from the $23,587,864 in 2016 to $56,624,965, the report indicates. Investment gains in the consulting services sector also doubled, from $20,732,845 in 2016 to $56,211,483 this year. Infused product and extract investments were also strong at $57,155,131 this year from $27,009,208 last year. Biotech and pharmaceutical investments this year are also strong as the sector has raised $571,181,328 this year, compared to $328,037,130 in 2016.
Sectors experiencing a drop in investments so far this year include consumption devices, down more than $10 million from 2016 levels ($25,301,853) at $14,931,026; hemp, which netted more than $1.5 million last year has received just $579,162 as of Sept. 29; physical security services, which reached almost $2 million last year but sits at $446,667 so far this year; and the real estate sector investments, which are down nearly half from $12.1 million in 2016 to $6,876,272 as of Sept. 29.
Harrison Phillips, Viridian Capital Advisors vice president, told Benzinga, that the first half of 2016 saw $230.1 million in investments, while the first six months of this year saw more than $130 million total investments.
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