LOS ANGELES, June 11, 2019 /PRNewswire-PRWeb/ -- The MGO | ELLO Alliance, a leader in cannabis financial, tax and advisory services, today announced the launch of the inaugural "MGO | ELLO Cannabis Private Investment Report", the first cannabis data report powered by PitchBook, premier data provider for the private and public equity markets. The report finds that venture capital (VC) investment in cannabis has soared to new heights, far surpassing last year's impressive rally, despite federal restrictions on banking and financing.
Key findings include:
"Venture capital investors aren't waiting for legalization, VC investment in cannabis startups is accelerating and isn't showing any signs of slowing down," said Evan Eneman, CEO of the MGO | ELLO Alliance. "VC activity has already grown to more than $1 billion this year, according to PitchBook, which exceeds last year's tally ? leaving Canada, where cannabis is federally legal, far behind."
The MGO | ELLO Alliance is the lead sponsor anchoring the report, in addition to contributors MAZAKALI, Fox Rothschild and Poseidon Asset Management. The full report is available to everyone and can be accessed online at http://www.mgocpa.com/ello/cannabis-investment-report
Hard copies of the report will be also be shared at the MGO | ELLO Alliance's "Funding Growth" event, an investor forum on June 13 in New York City.
"The investor community is way ahead of Congress in embracing the rapidly expanding cannabis economy. Both VC and PE opportunities in cannabis far outweigh lingering uncertainties some investors have about legalization," said Scott Hammon, COO of the MGO | ELLO Alliance. "Cannabis in 2019 is primed for a flurry of M&A deals and consolidations, and we will likely see more multi-billion deals from VCs and PEs who are looking to get more value from their investments."
To learn more about the MGO | ELLO Alliance's award-winning accounting, consulting and staffing services to the cannabis industry, visit http://www.mgocpa.com and http://www.elloinsights.com.
About MGO | ELLO Alliance
MGO is a CPA and advisory firm that offers a suite of accounting and advisory services to help companies, investors, and government agencies navigate the complexities of the cannabis market. Through a strategic alliance with ELLO?a cannabis business ecosystem providing investment banking, M&A advisory, capital raising, and strategic advisory services?we shape systems, processes, and transactions to support a sustainable, responsible future for cannabis.
For more information, please visit http://www.mgocpa.com and http://www.elloinsights.com.
SOURCE MGO, LLP
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