Investors Gather to Fund Most Promising Marijuana Industry Companies in Seattle 4/29
The ArcView Group hosts news conference to announce angel investments in this promising sector.
SEATTLE, April 24, 2013 /PRNewswire/ -- On Monday, April 29, 2013, more than 40 high-net-worth investors from around the world will gather in Seattle to hear pitches from the top entrepreneurs in the hot, new legal cannabis industry. The private event is hosted by The ArcView Investor Network. A news conference to announce some of the first funded deals will be held immediately after the investor meeting.
The ArcView Investor Network includes billionaires, technology entrepreneurs turned investors, small venture capital firms, former Microsoft executives, real estate moguls, large donors to marijuana policy causes, and owners of the biggest companies in the cannabis industry.
"Cannabis is the next great American industry," said ArcView co-founder and CEO Troy Dayton. "Now that a majority support legalization, a geyser is about to go off. The question is: which companies will be seated on top of it? That is what's being decided at this investor event."
Companies are vying for investments to make their business dreams come true. These include cannabis packaging, a handheld vaporizer, a transdermal patch that purportedly can stop the psychoactive effects of cannabis, a machine that makes a hash oil and other cannabis concentrates, and more. High-tech companies looking for investors include companies that make better grow lights, a mobile app for retailers, and even a crowdfunding platform.
The format of the event is similar to the one employed in the popular television show, "Shark Tank." Entrepreneurs will each have an exhibit table outside of the pitch room and be called in one at a time to pitch the investors who will pepper them with tough questions.
"The new legal cannabis industry represents the greatest investment opportunity since the fall of communism," said ArcView cofounder Steve DeAngelo, who is also executive director of Harborside Health Center and one of the most visionary pioneers of this industry. "The difference this time is that we are reclaiming the market from cartels instead of communists."
"Companies are coming out of the woodwork with new product ideas. Some will become lucrative businesses, others won't. What makes the cannabis industry different is the high level of passion and sense of purpose. Business is the most powerful platform for political change. I believe the development of a responsible, profitable, and politically engaged cannabis industry will be the biggest factor in hastening the day when not a single adult is punished for this plant."
The news conference is scheduled for 6 pm at The Columbia Tower Club, located at 701 Fifth Avenue in Seattle, WA. Reporters may arrive early.
About The ArcView Group
The ArcView Group was founded in 2010 by Troy Dayton and Steve DeAngelo and is based in the heart of the tech start-up world in San Francisco. In addition to the ArcView Investor Network, ArcView is ushering in the next generation of cannabis-related businesses with portfolio companies that include See Change Research, Cannassure Insurance Services, the crowdfunding platform WeCanna and other ground-breaking ventures. The ArcView Group is a founding member of the National Cannabis Industry Association and a member of the Angel Capital Association.
SOURCE ArcView Group
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