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PE Firm Hopes Pot Investment Fund Will Pan Out

Submitted by Marijuana News on Thu, 06/23/2016 - 08:40

Last week Microsoft announced a software partnership to help states track marijuana sales and MedMen launched its private equity Opportunity Fund

It may not be your cup of tea, but marijuana could become a potent alternative for certain high-net-worth investors looking for an industry with strong growth potential.

Last week Microsoft announced a software partnership to help state governments track marijuana sales, and, come Election Day, at least four states, including California, will host ballot initiatives to legalize recreational use of marijuana. Four states already have — Alaska, Colorado, Oregon and Washington — and those states plus some 21 more have legalized cannabis use for medical purposes.

Also last week, MedMen, a management company serving North America’s legal cannabis industry, announced the launch of the MedMen Opportunity Fund, a private equity fund seeking $100 million to “pursue strategic investments” in the domestic marijuana market.

MedMen CEO Adam Bierman says “there’s a...

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