That hasn't deterred cannabis-focused investors, who say they're investing cautiously in startups from cannabis tech to brands that sell THC and CBD products.
Three businesses that all directly touch the plant—Grassroots, Flow Kana, and Ascend Wellness—landed some top slots on our list with three votes each. Michael Gruber of Salveo Capital said his firm considers close to 1,200 deals a year. He said he decides not to invest in many of them because timing or focus may not align with his own firm. He said that many of the startups he looked at in 2019 were valued too highly, even though they were strong brands or good companies.
For other investors, taking a long term view that cannabis will eventually be legal in the US — whether that is in a few years or decades down the road — is crucial to making investment decisions today.
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