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Total capital raised already up 118% over 2020 with months to spare

After a lackluster 2020 amid the pandemic and an economic downturn, investment in the cannabis industry has reawakened, with the amount of capital raised up 118% over 2020 as of Sept. 10. Year-to-date 2021 activity has equaled or even surpassed investment in 2019 in four of the top five sectors, according to data from New York-based Viridian Capital Advisors.

Cultivation and retail, the bread-and-butter sector of the industry, remains the largest by far, with year-to-date raises topping $6 billion. The second-largest sector, investments/M&A, has seen raises of less than $1 billion so far this year.

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