Lowered valuations for cannabis companies are leading to a shift in the way capital raises and merger and acquisition activity is occurring in the cannabis space. Viridian Capital Advisors President & Founder Scott Greiper shared the trends that are shifting in the space.
Early Capital In Cannabis: Viridian Capital was the first investment bank in the cannabis space in June 2014 at a time when six states were legalized.
“Around $400 million [was] raised that first year, [and] in the first nine months this year, $8.5 billion,” Greiper told attendees at the recent Benzinga Cannabis Capital Conference in New York City.
Greiper discussed a decline in capital raises and mergers and acquisitions in the space with panelist Javier Hasse, the Managing Director of Benzinga Cannabis.
“Capital became scarce. Decline in public market …