A U.S. private equity firm investing exclusively in legal cannabis said on Thursday it had raised more than $100 million in its third round of fundraising, underscoring investor appetite for the burgeoning industry.
On June 12, 2017, the MedMen Opportunity Fund, a California-based private equity fund focused on the legal marijuana industry, filed Form D with the United States Securities and Exchange Commission, indicating that it had raised approximately $60 million of its $100 million offering.
While it is still difficult to invest directly in legal pot through public equities, venture capital firms and private equity funds have raised hundreds of millions of investment dollars.
On Jan. 6, 2017, CB Insights released a report on annual funding activity for private marijuana companies in 2016, as well as activity for the fourth quarter of the year. According to the report, deals made and dollars invested leveled off in 2016.
New Frontier Data estimates California’s marijuana industry will generate $7.6 billion a year in direct sales to consumers by 2020, and that’s not including sales generated when growers sell to processors and when processors sell to dispensaries.
On Nov. 4, 2016, Privateer Holdings, a Seattle-based private equity firm focused on the legal cannabis industry, announced that it has closed $40 million in convertible bridge funding, the first part of a future $100 million Series C equity round.
Private equity firm Seventh Point sees big opportunities in medical marijuana and wants to get in on the ground floor.
Money seems to be pouring into the cannabis industry as many investors believe the return on these early investments will be huge.
Over the last few years, a new wave of cannabis-finance companies have formed to capitalize on the green rush.
On Jan. 12, 2016, Privateer Holdings, a private equity firm focused on the legal cannabis industry, announced that it has hired Dante Tosetti, formerly a Federal Reserve Bank Examiner, as Director of Treasury Compliance.
On Dec. 4, 2015, Bloomberg’s Britton Staniar and Peter Robison interviewed Brendan Kennedy, CEO of Privateer Holdings, a private equity firm focused on the legal cannabis industry, in Seattle to discuss Privateer’s investments in cannabis-related businesses.
Brendan Kennedy wants to build the Coca-Cola of cannabis. The PepsiCo of pot. The Procter & Gamble of ganja.
Venture capitalist Peter Thiel—who famously suggested on CNBC that “pot smoking” was happening at Twitter—is considering a multimillion dollar investment in Privateer Holdings.
Private equity (PE) firms in the United States are primarily known for making financial investments in private companies that need a long holding period for funds. This is often done for new technologies, making acquisitions or to expand a balance sheet.
With an influx of capital from alternative and traditional (OK, fringe traditional) investors, the legalization business is about to get legit.
Marijuana Investor News estimates total related product sales to be between $50 and $60 billion in the United States. In a new report released on September 26, 2014, MJIN estimates the current market size for U.S. marijuana revenue by state.
In 2012, it took Seattle-based private equity firm Privateer Holdings Inc. 18 months to raise just $7 million for investment in the medical marijuana sector. This January, Privateer raised $15 million in just three weeks. Any day now, it will embark on a $50 million target raise.
Infinex Venutres, Inc. (OTC Pink: INFX) (PINKSHEETS: INFX) today announced that it has acquired the privately held company Marijuana Funding Inc, www.marijuanafundinginc.com based out of Boulder, Colorado.
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