Wealthy investors are spotting opportunities to back startups in the nascent business of growing and selling marijuana legally in California and other states.
ArcView Group, a San Francisco-based network of more than 300 accredited investors who are focused on opportunities in legal marijuana, has poured more than $12 million into 17 cannabis startups. The angel group, led by CEO Troy Dayton, is approached by 30 early-stage companies every week, the New York Times reported this month.
Dayton spoke at the Rockies Venture Club’s first Cannabis Capital Summit in Denver in May. The conference in the Mile High City featured four panel discussions, pitches from aspiring entrepreneurs seeking capital and an expo showcasing products and services for the legal-marijuana market.

Full Article