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CANNABIS VC INVESTMENTS SOAR

Axios published a multi-part feature on the industry. Key takeaways:

  • Racial minorities are still struggling to join the Green Rush. In a televised interview, former Speaker of the House John Boehner (R) said, “I don’t know that there’s any harm that’s been done,” by any delay in legalization. Boehner opposed legalization while in office and received a stock package now valued at $12M to join the board of MSO Acreage Holdings.
  • Big Pharma is interested, but there won’t be much investment while cannabis remains a schedule I drug. It would also have to “break past the ongoing relationships medical cannabis suppliers and dispensaries currently have with doctors.”
  • Cannabis VC investment topped $1.3B between January 2019 and mid-June, up from $1B in all of 2018 and $370M in 2017.

Quick Hits

  1. New Jersey Senator and presidential candidate Cory Booker said he was “absolutely disappointed” legalization didn’t come up in the first Democratic primary debates.
    Business Insider
  2. Leafly runs through where the 2020 candidates stand on legalization.