Venture capital

Special report: Weed, Inc.

Illustration of a marijuana plant with dollars for leaves
Illustration: Sarah Grillo/Axios

Venture capitalists are investing record sums in marijuana startups, growing twice as fast as 2018.

Why it matters: These investments are a bet that marijuana will be legalized in the U.S. at the federal level, as it has been in Canada.

VCs (heart) pot

Data: PitchBook; Chart: Harry Stevens/Axios

Venture capital is flowing steadily into hemp and cannabis companies, with investor enthusiasm growing as the number of legal markets for marijuana and CBD expands.

Details: Dollar volumes are already at a peak this year, and the number of deals may also set a record before 2019 comes to a close.