Marijuana Industry Fund Launched
Support for Companies and Technology
The marijuana industry has seen quite a bit of interesting activity in recent months, and it appears as if things aren’t looking to slow down anytime soon. Now, a new force is emerging in the industry, this time in the form of an industry fund.
Southern California venture capital firm Ghost Group has announced the launch of a fund called Emerald Ocean Capital, which will invest in companies and technologies that support the growth of the marijuana industry.
As far as Ghost Group general partner Justin Hartfield is concerned, there’s never been a better time than now to jump on board with the industry.
“The marijuana industry is poised to grow exponentially, and Emerald Ocean provides an opportunity to invest in companies that are pioneering the space and gaining traction in this multi-billion dollar industry,” said Hartfield in a press release. “With the legalization of marijuana in Colorado and Washington for adult use, government officials and the public at large are leading the way to legalizing marijuana nationwide.”
A Tricky Scenario
While it does indeed appear as if marijuana is poised to enjoy success as an industry (at least in the beginning), not everything is smooth sailing at the moment. Marijuana is seeking legalization in states throughout the country and has already found it in Colorado and Washington. This being said, the drug still remains illegal on a federal level, which makes it more difficult for burgeoning companies within the industry to reach the point of growth they are looking for.
Even with federal regulations standing in the way, there is plenty for companies such as Ghost Group to be excited about. Americans are becoming increasingly accepting and supportive of the legalization of marijuana not only for medicinal use but recreational as well.
Colorado and Washington may have been pioneers for the future of the drug, but they are far from the only states with forward-thinking policies on marijuana. California has been a massive supporter of medicinal marijuana for years, and now even Portland, ME is pushing to legalize the drug for recreational use within city limits.
The Ghost Group fund would likely provide major support to companies trying to make it in the marijuana industry. Dispensaries and similar organizations could receive funding, as could companies working towards furthering technology to grow the industry as a whole.
The goal would be to help support a budding industry and take advantage of a time where interest in the drug is high nationwide.
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Investing in the Marijuana Industry
There’s no getting around the fact that companies in the marijuana industry are very much looking forward to the growth they expect to see in the coming years. As a result, investors are paying close attention to how all of this unfolds and are looking to find ways in which to jump in reasonably.
With biotech being one of the hottest sectors of the market today, companies that specialize in furthering medicinal marijuana may be especially worth investor attention. After all, these are companies that are likely to be backed by funds such as Ghost Group down the road, and they could very well rise to prominence within a number of years.
As legalization for both medicinal and recreational use of the drug continues to spread throughout the country, it should come as no surprise that companies within the industry will be expected to flourish.
Regardless of how one feels about marijuana, the drug is here to stay, and it is creating an industry that lacks precedent. Consider the fact that there are no brands as of yet (although there are proposed brands in the works) – something that is practically unheard of in any market.
Indeed, marijuana is in its infancy as a legal commodity, and now is the time to pay attention to how things pan out. Investors could choose to hold off if anxiety takes hold, although the growth expected in the industry makes getting involved in the early stages all the more exciting.
If Ghost Group’s ambition is any indication, the future holds a lot of promise for the marijuana industry.
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