Cannabis Investments: Which States Are Getting The Most Capital? Here's The Top 10

The cannabis industry is witnessing a thrilling trend as Illinois stakes a claim on the top spot for the highest total invested capital over the last twelve months (LTM), concluding on June 23, 2023. Unveiled by Viridian Capital Advisors, this revelation punctuates a dynamic shift in the US investment milieu.

Elevating its state economy to unprecedented heights, Illinois' cannabis ventures have been the magnet for an astounding $454.08 million within the last year. This landmark accomplishment underscores the soaring growth potential of the industry, catapulting Illinois to the zenith of investment activity and reflecting an undeniable surge in investor confidence.

Hot in pursuit is the Empire State, New York, safeguarding its berth as the runner-up in the total invested capital showdown. Amassing a remarkable $409.49 million during the LTM period, New York echoes its legacy as an influential financial bulwark and a favorable destination for a massive capital influx.

Although Illinois and New York are front-runners in terms of total invested capital, the spotlight turns to the Golden State, California, for outstripping all other states in the aggregate number of investments funneled into cannabis enterprises. California, known for its vibrant economic landscape, lured in 28 investment deals, setting an impressive record for the sheer volume of investments. Even as it stands third in the total capital aggregation with a decent $308.15 million, the state's robust investment tally testifies to the thriving cannabis industry's allure in the region.

Learn more about the Illinois market and Viridian Capital Advisors' insights at Benzinga's upcoming Cannabis Capital Conference, taking place in Chicago on September 27 and 28. Secure your tickets now, before prices surge.

The chart below presents an insightful snapshot of the top states by capital raises: