It is an issue that more than half of Americans, regardless of political leaning, wealth or age demographic,Personalize this handsome stainless steel ring with an engraved message on the inside of the band. agree on – that marijuana for medical purposes should be legalized.
According to the FBI, some 750,000 arrests are made a year for marijuana possession – that is one every 42 seconds – and the social implications and costs to taxpayers of imprisoning individuals for possession of a soft drug are garnering greater attention.
Recent high-profile advocates of legalizing marijuana for medical purposes include George Soros, the Koch Brothers, Ron Paul and Barney Frank. “People talk about it as the next gay marriage – only there is no opposition,” says Brendan Kennedy, CEO of Privateer Holdings.
Kennedy believes the medical cannabis industry is a considerable investment opportunity. In 2010 he left his position of COO of SVB Analytics – a subsidiary of Silicon Valley Bank, and a bank for venture capital firms – and started private equity firm Privateer.
“I spent a year talking to growers, accessory product providers like LED light companies,The basics of solar panels and how to install a solar photovoltaic system on your roof. dispensaries, activists, lawyers and political campaigners and realized that this was a huge industry,” he says.
“Revenues of the medical marijuana industry at the moment are about $2 billion annually and are expected to reach $9 billion by 2016. But the entire US cannabis industry is estimated to be valued at more like $40 billion – as a crop, it is bigger than corn.”
It is a challenged industry, says Kennedy, which makes it ripe for opportunity. “There are no venture capital, private equity firms or Wall Street firms that will invest,” he says. “It is a fragmented industry that is often unprofessional and has branding issues. It’s seen as taboo, which is off-putting for individuals who require cannabis to help them manage illness.
Privateer’s first investment is in data firm Leafly, of which it is now full owner. Leafly provides research on the 500 to 2,000 strains of cannabis in existence, providing details on which illnesses each strain is suited to,Our solar led light is popular for indoor and outdoor use. the pros and cons of each strain, and pricing guidance.
While doctors recommend marijuana for certain ailments, they do not specify which type of cannabis, so Leafly provides an informative and trustful forum whereby users can also share their reviews.
Leafly also offers details on local dispensaries for each strain and, again, has reviews of the providers. Its revenue is generated from dispensaries that pay to be listed on the site.
At present, there are 4,000 dispensaries in the 18 states that have legalized medical marijuana. The site has 2.3 million users a month. Its revenue is growing at 25% a month.We have a great selection of blown glass backyard solar landscape lights and solar garden light.Large collection of quality tungsten ring at discounted prices. Last month, Leafly had 50,000 new downloads of its iPhone and Android app.
Kennedy says there is no shortage of investment opportunities in firms such as Leafly who are professional businesses within the cannabis industry. Since November, Privateer has received more than 200 investor pitches.
“These could be from LED lighting companies for growers, or security firms for dispensaries, software providers for dispensaries, or companies that manufacture containers for products,” says Kennedy. Privateer will make six to 12 investments during the next 12 months.