Currently, the state of California accounts for half of that industry, and it has been estimated that, in the event that marijuana should become legal in California, the industry’s revenue could easily double. No Lack of Demand Compared to tech startups, the marijuana business is able to leverage one important advantage.
In light of such demand, investors who once backed tech firms are now funneling their funds into the cannabis industry. TechCrunch reports that the Founders Fund recently invested in Privateer Holdings.
The fund, which was started by Peter Thiel, a PayPal co-founder, was just one of the firms offering $75 million in funding to Privateer Holdings, a firm that currently holds multiple cannabis investments.