Marijuana company fundraising through the first half of this year more than tripled from a year ago, according to a recent tally, as more marijuana stocks populate exchanges in the U.S. and Canada.
Marijuana businesses raised $4.3 billion through the end of last month, according to data from cannabis advisory firm Viridian Capital Advisors cited by Marijuana Business Daily.
The industry is on track to bring in $8 billion by the end of the year, up from $3.5 billion in 2017.
Marijuana Stocks Rake In Money
Of the $4.3 billion raised during the first half of this year, companies with marijuana stocks that trade publicly raised $3.29 billion, according to Viridian's tally. Privately held cannabis companies raised $1.04 billion.
Public and private companies raised a combined total of $3.18 billion in equity and $1.15 billion in debt.
Overall, cultivation and retail outfits led the charge, raking in more than $2.5 billion.
Among notable recent fundraising efforts, marijuana producer Acreage Holdings said this month that it had raised $119 million, an amount the company believes is the largest ever for the cannabis industry.
More at: Investor's Business Daily
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