Jim Patterson, CEO of medical marijuana delivery service, Eaze, works at his company, Thursday, March 30, 2017, at their offices in San Francisco, Calif. (Karl Mondon/Bay Area News Group) Silicon Valley investors are known for pouring money into risky bets like flying cars and asteroid mining. Now, a handful are diving into one of the few industries that makes most of their peers squeamish — pot.
As the marijuana industry soars, with New Frontier Data predicting legal pot sales will balloon to more than $24 billion by 2025, a handful of venture capitalists are climbing on board, albeit cautiously. Those putting money into the industry say it’s a rare chance to stake an early claim in a lucrative market with little competition from other investors. But they’re keeping one eye on President Donald Trump’s administration, watching for signs of a federal crackdown that could derail the burgeoning industry.
“It’s a completely untapped market with huge opportunity,” said Tusk Ventures Founder and CEO Bradley Tusk, an investor in Eaze, a marijuana delivery company founded by Orange County entrepreneur Keith McCarty.
For Tusk Ventures, a VC firm that specializes in helping startups like Uber and FanDuel navigate complex regulatory landscapes, the controversial marijuana industry […]