Article by Alan Brochstein, New Cannabis Ventures
We receive requests almost daily from cannabis entrepreneurs regarding the best potential sources of capital. One of the venues we recommend that they consider is The Arcview Group, which is an angel investor network that has been focused on the cannabis industry since 2010. Its accredited-investor members, who now exceed 550, have funded more than $83mm in investments since inception.
If your company is looking to raise capital, Arcview will be hosting the Arcview Investor Forum in Las Vegas, November 13-15. Not only can cannabis companies raise money from the event, but they can also compete for the recently implemented $50,000 Winner’s Fund investment by NeWAY Capital. The winner will be chosen by the Investor Members at the event (pending due diligence).
If your company is interested in pitching in Las Vegas, fill out a brief description of the business before the end of September. Arcview will review the information and potentially invite you to submit an official application. It will invite 2-5 companies each week into mentoring to prepare for a Pitch Webinar in front of a few dozen active Arcview Investor Members. Based on the performance on webinar, Investor Members then select 10-15 companies to receive expanded mentoring and the opportunity to present live to hundreds of high net worth investors and key industry players in Las Vegas, November 13-15.
According to Arcview, its investor members are looking for businesses that are “investment-ready”, already have a business plan, a pitch deck, are actively raising capital, know how the capital will be utilized, and know how much of their company they want to exchange for investment. Companies of all types in the legal cannabis industry are eligible to apply: information technology companies, biotechnology companies, dispensaries, licensed cultivation facilities, hemp product manufacturers, equipment manufacturers, real estate companies, and more.