Investors bet on recreational pot
Europe’s cannabis startups are raking in investor funds at an accelerating pace on the prospect of recreational marijuana becoming legal in Germany. Medical use — already legal — is also seeing tremendous growth.
After a slowdown in venture-capital deals in 2020, the cannabis industry recovered last year, and 2022 is also off to a good start as investors position themselves to cash in on the region’s promising cannabis market, according to Stephen Murphy, co-founder and chief executive officer of Prohibition Partners, a research firm focused on marijuana.
Investors are perking up as Germany’s ruling coalition seeks to legalize recreational cannabis in Europe’s largest economy — a plan that is in the pipeline, but doesn’t appear to be imminent yet. Many U.S. and Canadian cannabis businesses, including Curaleaf Holdings and Tilray Brands, already operate in Europe and have positioned themselves to benefit from a bigger recreational market.
– Read the entire article at Bloomberg.
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