According to data from PitchBook Data, venture capitalists are investing record sums into marijuana startups.
The data shows that investments are growing double compared to 2018.
PitchBook Data revealed that the sector made $1.3 billion through mid-June, compared with $1 billion for all of 2018 and $370 million for 2017.
Both the 2018 and 2017 figures were all-time hauls during the time.
“Investing for the short-term in specialized companies that become irrelevant after legalization has never made sense to me,” remarked Brendan Kennedy, the CEO of Tilray. “I think these companies will eventually revert to zero.”
Firms like DCM Ventures or Snoop Dogg’s Casa Verde Capital have been some of the first firms to see the opportunity in the space.