New $102 million equity fund targets science, tech hemp and MJ businesses

Briefs, Elemental Brand, Hemp Finance, Investing and Banking News, Intrinsic Capital Partners

Pennsylvania-based Intrinsic Capital Partners says it raised $102 million in a fund that will invest in science and technology businesses focused on the legal hemp and marijuana industries.

“We believe this is … a rare opportunity to invest in a space where there’s tremendous underlying demand, a strong industrywide growth profile and scarcity of capital,” Howard Goodwin, one of Intrinsic’s three founders, said in a news release.

Intrinsic said it has committed $65 million of the equity fund, Intrinsic Health Partners, to four companies and plans to invest in two or three additional companies.

The companies the fund is investing in are:

  1. Elemental Brand, a Pennsylvania-based provider of hemp-derived consumer health-care technologies.
  2. ACT Laboratories, a rapidly growing Michigan-based cannabis testing company.
  3. Treez, a California-based firm that provides point-of-sale software to marijuana retailers.
  4. Hound Labs, a California maker of marijuana and alcohol breathalyzer technology.

The firm’s advisory board includes veteran executives from Big Pharma, consumer packaged goods companies, technology and consumer health care.

Articles You May Like

Debate over ballot question on legalizing marijuana heats up
Cannabis Companies LOBBYING U.S Government on Marijuana Legalization in 2020?
Minnesota’s 2020 hemp harvest improving on THC fail rates
Northern Lights Feminized Strain Facts and Growing Marijuana Seeds Info
Medicinal Benefits of Cannabis and Hemp

Leave a Reply

Your email address will not be published. Required fields are marked *