So much for concerns about a federal government crackdown.
Much like the reaction by many public officials and consumers to U.S. Attorney General Jeff Sessions’ rescinding the Cole memo, financial backers in the marijuana industry seem unconcerned. Certainly, they’ve been willing to pony up a boatload of dollars so far in 2018 to back marijuana-related ventures.
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How big a boatload? About $1.23 billion in just the first five weeks of the year, according to a report from Viridian Cannabis Deal Tracker, a service that monitors merger and acquisition deals and investment in the legal marijuana industry. That’s almost as much as the total amount of investment in the entire year of 2016, according to Benzinga, and a 600 percent increase over the $178 million raised in the first five weeks of 2017.
