Cannabis Capital: Which State Is Getting The Most Investment Money? It's Not California Or Colorado

New York has emerged as the leading state in the realm of cannabis-related capital acquisition, amassing a staggering total of $414.05 million in the last year, Viridian Capital Advisors has revealed. As the data reveals for the last twelve months (LTM) ending on September 8, 2023, the Empire State not only excels in capital accumulation but also maintains a robust position in transaction volume, securing the second spot with 17 transactions.

Hot on New York's heels, Illinois occupies the second position with capital totals reaching $353.00 million. The Golden State, California, known for its vast economic contributions, rounds out the top three, with an invested capital of $311.60 million within the same LTM timeframe.

While the data provides a clear snapshot of the financial dynamics among these states, it also underscores the competitive landscape of capital raising activities. As states grapple to entice investors and fund numerous ventures, the evident rise in capital indicates a thriving economic environment in these regions.

The significance of these figures extends beyond mere state rankings. It demonstrates the financial vigor and investment potential of these states, which may inevitably influence future business decisions, investment strategies, and economic policies.

As the final quarter of 2023 approaches, all eyes will be on these states to see if they can maintain or surpass their current momentum in the ever-evolving financial landscape.

Click here to access the updated Viridian Cannabis Regional Deal Tracker to see the full analysis of capital raise and M&A activity by state.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.