The marijuana market When the COVID-19 crisis hit and could emerge more powerful than ever, was in the midst of a correction. After a development period of growth, marijuana startups went into 2020 with depressed worths and an unpredictable future. Now, with millions sheltering in location, numerous business are seeing unprecedented need and development opportunities as numerous states classified the market as an essential company
. TechCrunch surveyed leading investors focused on the cannabis market to collect their ideas on present patterns and opportunities. The results paint a sensational image of an industry on the verge of breaking away from a market correction. Our 6 respondents explained many opportunities for investors and startups, however warned that this atmosphere will not last long.
- Sean Stiefel, CEO, Navy Capital
- Matt Hawkins, Founder/Managing Partner, Entourage Result Capital
- Karan Wadhera, Handling Partner, Casa Verde Capital LLC
- Larry Schnurmacher, Handling Partner, Phyto Partners
- Mitch Baruchowitz, Managing Partner, Merida Capital Partners
- Morgan Paxhia, Managing Director, Poseidon Investment Management Emily Paxhia, Managind Director, Poseidon Investment Management
3 key takeaways
Cannabis is a necessary business
Per the financiers in our survey, most see the pandemic as a turning point for marijuana thanks to increased need and the market’s classification as a vital organisation. Sean Stiefel, CEO of Navy Capital, notes that states will seek to marijuana to help deal with deficit spending and said his firm is specifically delighted for legalization in New York City, New Jersey, Pennsylvania and Connecticut.
“Cannabis went from illegal to vital in about two weeks flat,” stated Matt Hawkins of Entourage Effect Capital. “Marijuana is now noted right along with medical facilities, medical professionals, supermarket, filling station and fire departments as a vital service.”
When the COVID-19 crisis hit and might emerge more powerful than ever, Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.