In recent months, special purpose acquisition companies, or SPACs, which function as “backwards IPOs,” have become the darlings of the cannabis world and the broader economy. However, a recent report that Casa Verde Capital, a SoCal investment fund co-founded by Snoop Dogg, has raised a $100M fund, underscores that traditional venture capital is alive and well in cannabis.

Pot stocks are on a tear and legal REC is coming to New Jersey, with more of the northeast likely to soon follow.

So, WeedWeek asked Joe Caltabiano, a co-founder of Illinois based multi-state operator (MSO) Cresco Labs, and Matthew Nordgren, founder and managing partner of Arcadian Capital, a cannabis investment firm which has invested in about 50 companies, how they would invest $100M right now.

Here’s what they said.

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