The Green Rush: Venture Capitalists Flock To Cannabis Industry
The activity has accelerated in the wake of California’s recent moves to regulate and tax medical marijuana. In other news, a county has a change of mind when it comes to medical marijuana.
The Press Democrat:
Investors Pour Millions Into Northern California Marijuana Industry
As millions of marijuana aficionados light up Wednesday at 4:20 p.m. in celebration of “Weed Day,” many are blissfully unaware of the increasing interest that investors with deep pockets are showing in their favorite psychoactive herb. A green rush is on in the marijuana industry, with legal sales of cannabis rising by a billion dollars or more each year nationwide, according to one report, and venture capitalists pouring millions into marijuana enterprises ranging from computer software and social networks to storage bags, vaporizers and insurance. (Kovner, 4/19)
Adelanto, Desert Hot Springs Could Become State’s Top Legal Marijuana Producers
Riverside and Upland led the court challenge in 2011 to allow local governments to ban medical marijuana stores in a winning case that went to the state Supreme Court. Five years later, there is more than a whiff of change: While Riverside voters in June 2015 rejected a city ballot measure that would have allowed up to 10 regulated dispensaries in the city, the City Council relented on its ban, a bit, in January and now permits medical users to grow small amounts of pot at home. (DeAtley, 4/19)