Capital Raises Summary
Each week, Viridian publishes insights and analysis on completed capital raise transactions in the prior week, focusing on all equity and debt deals. Our analysis includes:
- Summary
- Outlook
- Best & Worst Perfromers
Quick Links
YTD Analysis
- YTD capital raises totaled $0.74B, down 12.0% from last year’s $0.84B. From an LTM view, capital raises totaled $2.22B, down 4.3% from the same period in 2024. Debt as a percentage of capital raised on a worldwide basis was 74.4%, compared to 57.8% last year. U.S. raises LTM accounted for 88.6% of total funds, up from 45.1% at the same point in 2023. Raises from outside of Canada and the U.S. represented 5.9% of the total funds raised, in line with the average of 5.33% in the six previous years.
- Public company raises accounted for 78.0% of total raises in the LTM period, the highest since 2021.
- YTD capital raises for the cultivation and retail sector total $436.69M, up 112.9% from last year’s $205.1M. For the LTM period, the capital raised in the cultivation and retail sector was $1.390.91B, 20.0% higher than in 2024, which in turn was up 167% from 2023.
- Debt accounts for 93.6% of the funds raised over the last 12 months (LTM). Large debt issues (>$100M) represented 54.4% of capital raised compared to zero in 2023.
- Cannabis equity prices (as measured by the MSOS ETF) were down 1.66% for the week.
This weeks Sector Focus
Capital Raises vs Stock Prices
- Cannabis equity prices (as measured by the MSOS ETF) were down 1.66% for the week.
