Around £45 million has been raised in the London markets for cannabis companies just this year, say analysts.
Whilst this is just a drop in the ocean compared to the £30 billion raised in North America expect to see more cash heading into Europe over the coming months. The Proactive Investors website highlights research from stock broker Liberum, which calculates cannabis sector fundraising totalling £45 million, in 2019, so far.
It also quotes Ben Langley, chief executive of London-based cannabis company Grow Biotech, as saying that a ‘steady wave of capital is flowing to Europe’ from across the Atlantic
Cash To Deploy
He went on to say North American interest in Europe should be seen as an ‘enabler of growth, rather than something to be feared’ adding these entrepreneurs have ‘cash to deploy, global ambitions, and experience operating in legal markets’.