Denver Relief is launching a $10 million fund for cannabis companies, says
Yahoo! Finance.
Excerpt:
Denver Relief is currently in the process of setting up a $10 million investment fund that will allow interested backers to invest directly in the cultivation and operational side of the industry, as well as in ancillary businesses (grow equipment, lighting solutions, etc.). On track to launch by May of this year, the fund will offer debt-side investments starting at $100,000. (As of now, the state of Colorado requires that equity investors in the state’s marijuana businesses be Colorado residents; no such regulation applies to debt investments.)
Most notably, however, this fund could become a lifeline for startup operators and growers, bringing seed capital and true business financing to the cannabis industry for the first time.
“We’ll see how it goes,” Seeb says, “but we are absolutely working with very successful individuals who have proven successes in the past and have come to us because of our expertise in the industry... It’s been very nice that people want to come and work with us and they’re starting to recognize the work that we’ve done over the last several years.”
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