Funding the Future of Cannabis
☰Explore Exciting Information as Revealed by Salveo Capital and its Portfolio Companies
Salveo Capital announced the appointment of former Goldman Sachs executive, Thomas Mazarakis, as a Managing Partner. Mr. Mazarakis will work alongside Managing Partners Michael Gruber and Jeffrey Howard in overseeing strategic direction and will be responsible for portfolio management as well as scaling the firm and its operations.
Read more...Tokyo Smoke announces merger with DOJA and strategic investment from Aphria to create a leading lifestyle brand and retail-focused cannabis company.
Read more...Salveo Capital's portfolio company Front Range Biosciences raises an additional $3MM for expansion of their tissue culture propagation capabilities, and entering into the California market.
Read more...Though legal in many states across the country, at the federal level cannabis is still regulated in Schedule I of the Controlled Substances Act. Current cannabis businesses operating within the bounds of state laws are still subject to many challenges stemming from the federal classification of the plant. In recent months, however, the DEA has revealed that it is re-examining the current scheduling of cannabis.
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Thirsch said, “I have no doubt we’ll hit that in a short time frame and I anticipate we’ll form a second and third fund.” Thirsch said he hasn’t had to do a lot of selling to find investors because “investors want to get in, but they aren’t sure how to do it.”
Read more...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.
Read more...Alex Thiersch recently announced the launch of Chicago-based Salveo Capital and is aiming to raise up to $25 million. He says he expects to have raised $10 million in the next month and an additional $5 million to $15 million within three months.
Read more..."There are some snake-oil salesmen out there, but in some respects that's going to happen in any industry," said Alex Thiersch, managing principal of Chicago-based Salveo Capital, which invests in the medical marijuana industry. "We need to figure out what marijuana does. You talk to cancer patients, for instance, and from a medical standpoint, it appears to work. But why does it work? You talk to pharmaceutical companies and they've been doing research on their drugs for years. And we need that kind of work on marijuana."
Read more..."This is very, very encouraging," said Alex Thiersch, a managing partner at Salveo Capital, a Chicago firm in the process of raising a potential $25 million fund to invest in marijuana businesses. "This opens many, many doors for us to pursue opportunities."
Read more...While Salveo is looking to pursue investments in growing and distribution operations, a larger firm with a portfolio of active investments, Privateer Holdings Inc., has limited its deals in the U.S. to ancillary businesses in the marijuana industry...
Read more...It’s unlikely Cresco, In Grown and Ieso are the only businesses looking for new financing for medical pot in Illinois. Chicago-based Salveo Capital is looking to cash in on that need. It has formed a private equity fund offering to help bankroll licensed marijuana businesses.
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Salveo Fund I will look to invest in firms that cultivate marijuana, like indoor farms, Thiersch said. The pool will also seek to invest in dispensaries, as well as ancillary products like software technology and security. Investments will range from $3 million to $5 million equity per deal, he said.
Read more...He's someone who sees this industry for what it is, a unique opportunity, and he’s right on track with being part of history in the making. Alex Thiersch of Salveo Capital is here to give us his insight on the industry, what it takes to succeed in the space, why you’ll never catch him ‘shutting down’ a company due to failure, why he advises entrepreneurs to make two business plans.
Read more...Though not awarded an Illinois license, Salveo Health & Wellness announces the establishment of a private equity fund to invest in, develop, and strengthen the marijuana industry in Illinois and the United States...
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