Who are the most active cannabis venture capital firms?

The venture capital landscape for cannabis has evolved significantly, shifting focus from plant-touching multi-state operators (MSOs) to ancillary tech, compliance platforms, biotech, and international medical markets.

The most prominent and active venture capital and private equity firms specializing in the cannabis sector include:

• Casa Verde Capital — Co-founded by Ted Chung and famous cannabis entrepreneur Snoop Dogg, Casa Verde is arguably the most recognizable name in cannabis VC. They focus heavily on ancillary, scalable, and capital-efficient businesses across B2B software, logistics, and compliance. Notable portfolio investments include Dutchie (e-commerce/POS), LeafLink (wholesale marketplace), Vangst (staffing), and international plays like Germany's Sanity Group.
• Entourage Effect Capital (formerly Cresco Capital Partners) — Founded in 2014, this Dallas-based firm has backed dozens of early-to-growth-stage companies across the supply chain. They deploy capital emphasizing ancillary tech, data analytics (such as Hoodie Analytics), and brand platforms, frequently collaborating via ecosystem partners like Arcview Ventures.
• Merida Capital Holdings — A private equity and venture firm focused on ancillary cannabis services, cultivation technologies, and life sciences. Merida targets data platforms, security, scientific testing, and B2B infrastructure that support the operational backbone of the legal cannabis market.
• Gotham Green Partners — A prominent investment firm managing substantial assets dedicated to cannabis and cannabis-related enterprises. They participate widely across capital structures, ranging from early-stage venture financing to larger debt and equity investments in prominent operators and infrastructure providers.
• Altitude Investment Management — A dedicated cannabis investment firm focused on early-stage opportunities in ancillary products, tech, consumer goods, and life sciences/biotech. They have historically been one of the more consistent institutional-grade participants keeping pace with early deal flow in the sector.

If by “most active” you mean firms with the largest number of cannabis startup investments—not necessarily the largest check sizes—the current data points to a fairly concentrated group.

Leading cannabis-focused VCs

*The first three figures come from a database updated in August 2026 and ranked by number of relevant cannabis startup investments.

Casa Verde and Poseidon stand out in the current data. Casa Verde says it has evaluated thousands of opportunities since 2015 and invests across financing stages, while Poseidon has been dedicated to cannabis investing since 2013.

If you're raising for a cannabis startup

The distinction between plant-touching and ancillary businesses matters a lot. Cannabis software, payments, compliance, POS, data, logistics and other infrastructure generally have access to a broader VC universe than companies directly cultivating or selling cannabis.

For an ancillary/technology startup, I'd put particular attention on:

• Casa Verde
• Poseidon
• Phyto Partners
• Merida Capital
• Entourage Effect Capital
• Gotham Green

For very early-stage companies, CanopyBoulder is also notable historically; CB Insights lists 114 investments for its accelerator program.

One caveat: “active” can mean number of deals, dollars deployed, or investments made recently, and those produce different lists. The current 2026 database ranking is specifically based on number of cannabis startup investments, so it shouldn't be interpreted as a ranking by capital deployed.

If you're fundraising, I can also give you a 2026 cannabis VC target list of ~25 firms, with check size, stage, plant-touching vs. ancillary, geography, and notable portfolio companies.

The distinction between plant-touching and ancillary businesses matters a lot. Cannabis software, payments, compliance, POS, data, logistics and other infrastructure generally have access to a broader VC universe than companies directly cultivating or selling cannabis.

For an ancillary/technology startup, I'd put particular attention on:

• Casa Verde
• Poseidon
• Phyto Partners
• Merida Capital
• Entourage Effect Capital
• Gotham Green

For very early-stage companies, CanopyBoulder is also notable historically; CB Insights lists 114 investments for its accelerator program.

If by “most active” you mean firms with the largest number of cannabis startup investments and continued activity, the current leaders are:

*Current investment counts from an August 2026 investor database; counts vary depending on how follow-ons, strategic investments and portfolio companies are classified.

The firms I'd put on a serious fundraising target list

• Casa Verde Capital — Probably the most recognizable dedicated cannabis VC. It has been investing since 2015 and says it evaluates thousands of opportunities while investing across the financing cycle. Its portfolio is heavily weighted toward ancillary businesses rather than plant-touching operators, making it particularly relevant for cannabis software, marketplaces, consumer brands, fintech and infrastructure.
• Poseidon Asset Management — One of the most prolific dedicated cannabis investors by deal count. Particularly interesting if you're building software, SaaS, data, payments or other cannabis infrastructure. Current databases put it at roughly 26 U.S. cannabis investments.
• Phyto Partners — Another long-running specialist, with roughly 14 relevant deals in the current database. Its portfolio has historically included cannabis technology and infrastructure companies.
• Arcview Ventures — Different from a conventional institutional VC. Its Collective Fund invests at seed/early stage and typically makes investments of about $75K–$250K over the life of an investment, while leveraging a large cannabis investor/operator network.

Beyond those four, I'd put Entourage Effect Capital, Merida Capital, Gotham Green Partners, 7thirty Capital, F4 Fund, KEY Investment Partners, and Green Lion Partners on a broader cannabis-investor list. These become especially interesting depending on whether you're plant-touching, ancillary, biotech, software, consumer, or infrastructure.

One important caveat: cannabis VC has been relatively quiet compared with 2019–2021. Private equity and traditional VC pulled back substantially as cannabis operators struggled with taxes, regulation, banking and profitability. In 2024, debt represented about 92% of cannabis capital raised, according to Viridian data cited by the Wall Street Journal. The Wall Street Journal The picture may be changing, though: 2026 federal rescheduling developments have already prompted cannabis-pharma companies to report renewed VC interest.

If you're raising capital for a cannabis startup, I can also give you a ranked list of the top 20 cannabis VCs, including fund size, recent investments, check size, stage, geography, partner names, and whether they invest in plant-touching companies.

The cannabis venture capital and private equity landscape has evolved past the speculative boom of the late 2010s. The most active and enduring firms in the space today focus on systematic due diligence, regulatory navigation, ancillary tech, and scalable plant-touching or consumer brands.

The most active and prominent cannabis-focused venture capital and investment firms include:

• Merida Capital Holdings — A private equity and venture firm operating since 2016, Merida is one of the most prolific investors in the ecosystem. They focus on the fundamental growth drivers of the industry, targeting cultivation technologies, data, security, and ancillary services as well as clinical and recreational products.
• Entourage Effect Capital (formerly Cresco Capital Partners) — Founded in 2014, EEC has built a robust portfolio spanning both plant-touching operators and ancillary service businesses. They actively deploy capital across growth-stage opportunities and early-stage seed rounds (via allocations like the Arcview Ventures Seed Fund) designed to scale ahead of broader federal reform.
• Poseidon Asset Management — Founded by siblings Emily and Morgan Paxhia in 2013, Poseidon is a true pioneer and one of the longest-running dedicated cannabis investment managers. They maintain an active deployment strategy across multiple funds (such as the Poseidon Garden Fund) covering a diverse array of subsectors across both public and private cannabis equities.
• KEY Investment Partners — Based in Denver, KEY takes a rigorous institutional approach to private cannabis investing. They focus heavily on high-growth, market-leading ancillary and plant-touching operations—such as retail consolidation platforms and tech infrastructure—backed by seasoned management teams.
• Arcview Ventures — Operating an integrated ecosystem of high-net-worth angel investors and structured funds (including their accelerator and seed funds), Arcview remains a foundational conduit for early-stage deal flow and capital deployment into nascent cannabis startups.

If by “most active” you mean firms with a meaningful number of cannabis startup investments—not simply the biggest cannabis funds—the current landscape is fairly concentrated.

Based on an August 2026 investor database ranking, the leaders are Casa Verde Capital, Poseidon Asset Management, and Phyto Partners.

*Investment counts vary substantially by database methodology. The first three have the clearest current activity ranking: Casa Verde 27, Poseidon 26 and Phyto 14 in the latest global cannabis VC dataset.

My shortlist if you're fundraising

1. Casa Verde — probably the most important name to know. It has been cannabis-focused since 2015, evaluates companies across the financing lifecycle, and explicitly targets scalable, capital-efficient businesses. Its recent activity includes a 2025 Series A in UK medical-cannabis clinic Mamedica.

2. Poseidon — particularly compelling for cannabis software, data, compliance, retail infrastructure and other ancillary technology. Its disclosed portfolio includes Headset, Flowhub, Wurk, Happy Cabbage Analytics and Green Flower, among others.

3. Phyto Partners — one of the more consistently active dedicated cannabis VCs, with investments spanning seed through later rounds and a particular emphasis on technology and cannabis-adjacent businesses.

4. Entourage Effect Capital / Merida / Gotham Green — I'd put these on the list if you're raising a larger Series A/B or growth round, rather than a tiny pre-seed.

5. Arcview — different model, but valuable if you need cannabis-industry introductions and a broad investor network. Its Collective Fund invests at seed/early stage, generally making $75K–$250K investments over the life of a company.

One important distinction: the best cannabis investor depends heavily on what you're building. A cannabis SaaS/compliance company should target a somewhat different set of investors than a plant-touching cultivator, cannabis CPG brand, biotech company, or dispensary operator. The market is also starting to change as U.S. cannabis policy becomes more favorable to institutional investment; Reuters reported in April 2026 that rescheduling was already generating renewed VC interest in cannabis-derived pharmaceuticals.

If you tell me what your cannabis company does, stage (pre-seed/seed/A/B), and how much you're raising, I can give you a ranked list of 15–25 investors that are the best fit, including recent investments, check sizes, partner names, and how to approach each one.

The cannabis venture capital and private equity landscape has evolved past the speculative rush of early legalization. Today, active firms primarily focus on ancillary technology, compliance platforms, biotechnology, and scalable B2B operations rather than direct plant-touching cultivation in saturated markets.

The most prominent and active venture capital and investment firms in the cannabis sector include:

• Casa Verde Capital — Co-founded by Snoop Dogg and Karan Wadhera, Casa Verde is widely regarded as the leading venture capital firm focusing exclusively on the cannabis industry. They specialize in early-stage ancillary businesses (such as e-commerce, POS software, and logistics), with major portfolio names like Dutchie and Metrc.
• Altitude Investment Management — A U.S.-based global venture capital fund that invests across a wide range of early-stage to growth-stage cannabis companies, spanning technology, therapeutics, and mainstream ancillary products in the U.S. and internationally.
• Entourage Effect Capital — Formerly known as Cresco Capital Partners, this private equity and venture firm has a long track record of actively deploying capital into the cultivation, technology, and branding segments of the legal cannabis market.
• Merida Capital Holdings — A private equity and venture platform targeting fundamental infrastructure, analytics, and life sciences surrounding the cannabis and hemp spaces. They are heavily focused on data-driven and tech-enabled ancillary businesses.
• Gotham Green Partners — A New York-based private equity firm focused on large-scale capital deployment into global cannabis enterprises, restructuring, and operational scaling across the supply chain.
• Green Acre Capital — A prominent private investment fund that historically anchored a significant share of early-stage Canadian and international medical and recreational cannabis startups, branching into broader consumer-packaged goods and tech.

If by “most active” you mean firms that have repeatedly deployed capital into cannabis companies—not just generalist VCs that have made one cannabis bet—the current leaders are fairly concentrated.

Most active cannabis-focused VCs

*Investment counts vary substantially by database methodology, so I would not treat the numbers as directly comparable. The latest available investor database puts Casa Verde, Poseidon and Phyto at the top by number of tracked cannabis startup investments.

My shortlist

1. Casa Verde Capital — probably the first firm I'd approach for a cannabis startup. It has been cannabis-focused since 2015, invests across financing stages, and has a particularly strong emphasis on scalable, capital-efficient businesses. Its portfolio includes cannabis software, payments, compliance, healthcare, cultivation technology and consumer companies.

2. Poseidon Asset Management — one of the most consistently active dedicated cannabis investors, particularly attractive for cannabis technology, SaaS, software and ancillary businesses. Current tracking shows 26 U.S. cannabis startup investments.

3. Entourage Effect Capital (EEC) — one of the industry's longest-running institutional investors. EEC says it has deployed $140M+ across 60+ portfolio companies and is currently deploying Fund III; importantly, it has an early-stage allocation through its Arcview Ventures Seed Fund.

4. Phyto Partners — particularly worth looking at if you're building technology, software, marketing/data infrastructure or other ancillary cannabis businesses. It currently ranks third among tracked cannabis VCs by investment count.

5. Merida Capital — a strong candidate once a company has moved beyond a very early seed round, especially for cannabis infrastructure and businesses with meaningful operating scale.

6. Gotham Green Partners — another important institutional cannabis investor, generally more relevant once there's substantial revenue, traction or a larger financing requirement.

7. Arcview Ventures — somewhat different from a conventional VC. Its Collective Fund invests in seed/early-stage cannabis companies, typically making $75K–$250K investments over the life of an investment, while leveraging its broader investor network.

If you're actually fundraising

I'd narrow the list based on what you're building:

• Cannabis SaaS / compliance / POS / fintech: Poseidon, Casa Verde, Phyto
• Cannabis consumer brand / CPG: Casa Verde, Gotham Green, Entourage Effect
• Plant-touching operator: Entourage Effect, Merida, Gotham Green
• Biotech / cannabinoid therapeutics: Casa Verde, Arcview, specialized life-science investors
• Cultivation / agtech: Casa Verde, Phyto, Entourage Effect
• Pre-seed / seed: Poseidon, Casa Verde, Arcview, Phyto
• Series A+ / growth: Entourage Effect, Merida, Gotham Green

One important caveat: cannabis VC activity has contracted considerably compared with the 2019–22 boom, with debt/private credit taking a much larger role in cannabis financing. The Wall Street Journal So “active” in 2026 is better measured by recent deployment and willingness to write new checks, rather than simply historical portfolio size.

If you tell me what your cannabis company does, how much you're raising, and whether you're pre-revenue or revenue-generating, I can give you a ranked list of 15–20 VCs that are the best targets right now, including check size, stage, recent investments, partner names, and pitch/contact links.

1. Casa Verde Capital — probably the first firm I'd approach for a cannabis startup. It has been cannabis-focused since 2015, invests across financing stages, and has a particularly strong emphasis on scalable, capital-efficient businesses. Its portfolio includes cannabis software, payments, compliance, healthcare, cultivation technology and consumer companies.

2. Poseidon Asset Management — one of the most consistently active dedicated cannabis investors, particularly attractive for cannabis technology, SaaS, software and ancillary businesses. Current tracking shows 26 U.S. cannabis startup investments.

3. Entourage Effect Capital (EEC) — one of the industry's longest-running institutional investors. EEC says it has deployed $140M+ across 60+ portfolio companies and is currently deploying Fund III; importantly, it has an early-stage allocation through its Arcview Ventures Seed Fund.

4. Phyto Partners — particularly worth looking at if you're building technology, software, marketing/data infrastructure or other ancillary cannabis businesses. It currently ranks third among tracked cannabis VCs by investment count.

5. Merida Capital — a strong candidate once a company has moved beyond a very early seed round, especially for cannabis infrastructure and businesses with meaningful operating scale.

6. Gotham Green Partners — another important institutional cannabis investor, generally more relevant once there's substantial revenue, traction or a larger financing requirement.

7. Arcview Ventures — somewhat different from a conventional VC. Its Collective Fund invests in seed/early-stage cannabis companies, typically making $75K–$250K investments over the life of an investment, while leveraging its broader investor network.

If you're actually fundraising

I'd narrow the list based on what you're building:

The cannabis venture capital and private equity landscape includes several specialized firms that have consistently deployed capital across plant-touching and ancillary sectors (such as tech, logistics, biotech, and consumer goods):

• Casa Verde Capital — Widely recognized as one of the prominent venture capital firms focusing exclusively on the cannabis industry, investing primarily in early-stage ancillary businesses (e.g., tech, B2B platforms, and logistics).
• Merida Capital Holdings — A private equity and venture platform targeting fundamental growth drivers in the cannabis and hemp ecosystems, ranging from cultivation technology to biotech and data services.
• Entourage Effect Capital — A growth equity and venture firm specialized in the cannabis sector, managing a substantial portfolio spanning brands, supply chain infrastructure, and compliance services.
• Altitude Investment Management — A U.S.-based global venture capital fund investing across the legal cannabis ecosystem, focusing heavily on scalable commercial operations and technology.
• Poseidon Asset Management — An established investment firm focusing across the cannabis value chain, known for strategic early-stage and growth investments in market-leading operators.
• Green Acre Capital — A specialized private investment fund targeting the broader global legal cannabis sector, with significant historical activity in the North American market.

If by “most active” you mean dedicated cannabis investors with a meaningful number of deals and continued activity, the current leaders are fairly clear.

Leading cannabis VC firms

1. Casa Verde Capital — probably the strongest overall name. Current databases rank it #1 with roughly 27 tracked cannabis investments, spanning Seed through Series B and beyond. Its portfolio includes cannabis software, payments, compliance, retail infrastructure, biotech, CPG, and plant-touching companies.
2. Poseidon Asset Management — one of the longest-running dedicated cannabis funds, founded in 2013 by Emily and Morgan Paxhia. It has about 26 tracked cannabis investments, particularly strong in early-stage companies and cannabis technology/infrastructure.
3. Phyto Partners — around 14 tracked cannabis investments and a long history in the sector. Particularly relevant for cannabis technology, software, brands and ancillary businesses.
4. Entourage Effect Capital — a more institutional investor with exposure across the cannabis value chain. It's particularly interesting for companies that have moved beyond very early seed and need substantial growth capital.
5. Merida Capital Partners — a major cannabis-focused investor, especially relevant to infrastructure, ancillary businesses and more mature companies. It tends to be more growth-oriented than a traditional seed VC.
6. Gotham Green Partners — significant cannabis investment platform, generally more relevant once a company has meaningful revenue and is raising larger institutional rounds.
7. Tuatara Capital — another established cannabis investor, with experience across technology and operating businesses.

If you're looking for investors for a startup

I'd narrow the list considerably:

The interesting thing in 2026 is that cannabis VC has shifted heavily toward ancillary/infrastructure businesses—software, payments, compliance, data, insurance, retail infrastructure and biotech—rather than simply funding cultivation and dispensaries. Current investor databases put Casa Verde, Poseidon and Phyto clearly at the top by deal count.

If you're asking because you're raising capital for a cannabis startup, tell me the business model, stage, amount you're raising, and location, and I can give you a much more useful top 10 target investor list ranked by likelihood of investing, including partners to approach and relevant portfolio companies.

The cannabis venture capital landscape is shaped by specialized sector-focused funds and private equity groups that navigate regulatory complexities across plant-touching and ancillary markets.

The most prominent and active venture capital and investment firms in the cannabis sector include:

• Casa Verde Capital – Widely recognized as one of the most active and premier VC firms focusing exclusively on the cannabis industry. They invest heavily in ancillary services, technology, and consumer experiences driving the sector forward.
• Merida Capital Holdings – A private equity and venture capital firm targeting fundamental infrastructure, cultivation technologies, life sciences, and data services within the regulated cannabis ecosystem.
• Entourage Effect Capital – A specialized venture capital firm that actively deploys capital across both plant-touching operators and ancillary B2B companies supporting the legal cannabis market.
• Altitude Investment Management – A dedicated cannabis investment firm providing institutional capital to early- and growth-stage companies across the supply chain, tech, and therapeutics.
• Salveo Capital – A venture capital firm focusing on early-to-growth-stage ancillary cannabis businesses, including tech platforms, compliance, and consumer brands.
• Poseidon Investment Management – A veteran institutional investment manager in the cannabis space focusing on a diversified portfolio spanning multiple sub-sectors of the industry.