A California-based company has set aside $100 million to purchase and invest in cannabis businesses as part of its bid to bolster the medical marijuana industry. Green Asset International Inc. said it plans to focus primarily on “cutting-edge” cannabis companies involved in the medical and social media sides of the business.
The company’s investment plans are a boon for emerging MMJ businesses that are already profitable but need some more financial support to reach the next level. The move will also benefit the medical marijuana industry as a whole, helping to remove the stigma surrounding MMJ by bringing professionalism and legitimacy to the sector.
“Real men and women in the corporate world are taking a stand to make a change by boldly ‘coming out to the closet’ to show their support and the validity of this great, growth-potential business by investing in the cannabis sector,” Green Asset wrote in a press release announcing the move, adding that it hopes to consolidate – and ultimately strengthen – the medical and social media segments of the industry.
Green Asset will target ancillary MMJ businesses in the medical and social media segments of the industry, rather than the actual dispensaries and growers who directly handle marijuana.
The company estimates that there are roughly $1 billion in investment opportunities in the industry. As part of its plans, Green Asset will host symposiums aimed at increasing investment activity in general in MMJ. It also will provide market data and knowledge about the investment climate.
“This creates a wonderful opportunity for entrepreneurs and smart investors to be on the ground floor of this exciting and groundbreaking industry. There are great financial rewards coupled with a chance to be involved in a hot ticket business that is on the cutting edge”, said Cheryl Shuman, Green Asset’s chief executive officer and a well-known name in media, marketing and celebrity circles.