StarGreen Capital Will Invest $100 million Over the Next Year to Support Entrepreneurs in California's Legal Medical and Recreational Cannabis Industries
The firm will provide funding, real estate and business development services to cultivators, manufacturers and retailers in the rapid-growth industry
BEVERLY HILLS, Calif., May 23, 2017 /PRNewswire/ -- StarGreen Capital announced today its plans to invest $100 million over the next year in California's legal medical and recreational cannabis industries. StarGreen will provide capital and business development services to qualified partners representing every segment of the industry from "seed to sale." Initial areas of focus for investment will include partnering with cultivators, manufacturers and retailers to acquire, develop and lease real estate, expand operations, and build cannabis consumer brands.
The firm's goal is to help entrepreneurs at every stage of growth capitalize on the generational growth opportunity in California's legal cannabis industry. According to the market analysis firm AMR, North American consumers spent $6.9 billion on legal cannabis products in 2016, up 30 percent from $5.1 billion in 2015. California accounted for more than 30 percent of the legal cannabis market in 2016 with some analysts projecting greater than 20 percent annual growth through 2021.
"We see tremendous opportunities for growth in the next twelve months," said StarGreen Capital CEO Paul Daneshrad. "Our focus is to invest $100 million in real estate and joint ventures over the next year to help cannabis entrepreneurs in every segment of the industry capitalize on this generational opportunity."
Even though the industry is projected to grow aggressively in California and nationwide, cannabis entrepreneurs still face significant obstacles in starting and growing their businesses. These obstacles include a lack of access to capital markets and banking services, challenges identifying suitable real estate for purchase or lease, and a complex and evolving regulatory environment at the state and federal levels.
StarGreen's goal is to provide California's cannabis entrepreneurs with the tools they need to overcome these challenges. The firm will provide its partners with ready access to institutional level capital and deep expertise in cannabis business operations, commercial real estate and brand strategy. Each joint venture will deploy a unique mix of business tools to put investment partners on a path to rapid growth.
To learn more about partnership opportunities with StarGreen Capital visit www.stargreencapital.com
About StarGreen Capital - We believe California's emerging legal cannabis industry represents a generational growth opportunity for cultivators, manufacturers and retailers. StarGreen Capital is a catalyst for high potential legal cannabis businesses to achieve rapid growth by providing ready access to capital and industry leading business development expertise.
SOURCE StarGreen Capital
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