Asset manager sees gold in grass; starts PE pot fund
As various forms of legalized marijuana use spreads across the country, firm tests the limits with fund that will invest along the entire marijuana supply and distribution chain
As marijuana becomes legalized in various parts of the country, investors and asset managers are grappling with the best way to make some money off the trend.
The latest, and perhaps most aggressive, effort is a new private-equity fund from Salveo Capital that will invest along the entire marijuana supply-and-distribution chain, including the businesses that physically handle the product.
Even though a growing number of states have relaxed laws and legalized use, marijuana is still illegal at the federal level, which has prevented earlier private-equity funds from venturing into exposure to companies that grow and sell it.
“We're going to be investing in legal marijuana, whether it is for medical or recreational use,” said Alex Thiersch, Salveo managing principal.
“Growing, selling, researching...
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