But Rivera said some of the investors he’s spoken to at cannabis conferences have raised concerns about the illicit market eating into legal sales – something New York lawmakers are“Their evaluations of what they feel the business is worth are really low,” and as a result they are offering CAURD licensees unfavorable terms in exchange for startup capital, he said.
"It's a bad business decision to completely rely on an outside party who are strangers to both fund and run your business," said Morena, who advises early-stage startups through his firmRivera, who has a license to open a dispensary in Queens, said he is relying on funds from friends and family. That means he gets to retain more control of his business, but it limits how much money he can raise. “Everybody is a blue-collar worker, so they work hard for their money,” Rivera said.
“We are really interested in attracting capital,” Bernabe said during a talk at the event’s investors summit. “We have one of the states that’s most exposed to global tourism.”