Article by Reid Southwick, Calgary Sun
Amid the hype surrounding Canada’s budding legal marijuana industry, a top executive at an investment fund focused on early-stage cannabis companies says investors are looking for the next big play.
“We’re on the precipice of a massive industry being turned on,” Tyler Stuart, managing director at Green Acre Capital, said Tuesday after a marijuana conference wrapped up in Calgary.
Stuart’s company is raising a $25-million venture capital fund that will invest in 25 to 30 companies, and he was on the hunt for promising startups.
“We want to be there early and we want to be aggressive in structuring investments in this industry,” he said.
Licensed growers, biotechnology firms and vape retailers pitched their products and management teams in front of a room filled with investors at the downtown Calgary conference, hosted by investment dealer Dundee Capital Partners.