Investing In Legal Marijuana Business

By late 2011, the private equity firm had acquired Leafly, a site that offers reviews of medical-marijuana dispensaries and cannabis strains. At purchase the site had 180,000 unique visitors per month. Two years on it has over 4m per month, as well as a host of apps.

Careful not to invest in any product that would violate federal laws, the company does not grow, process or sell marijuana in the US. However, they are fully sanctioned to do so in Canada. Privateer’s Canadian subsidiary invested $3m plus an expected $7m for improvements to acquire a 35 000 square foot warehouse in Nanaimo, British Colombia, to grow marijuana plants.

It is quite a turnaround for the boys from Yale.

In the 10 April 2014 issue of Finweek we take a look at the global movement towards legalising medical marijuana and the economic potential of this industry.

To read more, visit http://finweek.com/2014/04/03/entrepreneurship-cannabis-turned-business/

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