NEW YORK — WelCan Capital, a cannabis-focused venture capital firm, announced the launch of the first impact investment fund focused on bolstering the cannabis industry and addressing the challenges and injustices stemming from cannabis prohibition. Leveraging a ‘people + purpose + profits’ philosophy, the new fund will invest in four core verticals across plant-touching and ancillary businesses in the cannabis sector: Business Services, Emerging Technology, Software and Licensed Operations.
“The lack of institutional capital in the space creates a compelling opportunity for investors,” said Vikas Desai, partner at WelCan Capital. “Our focus is to drive performance, while also playing a vital role in shaping the future of key issues today: sustainability, medicinal research, criminal justice reform and our nation’s opioids crisis. We know creating lasting, responsible change and maximizing opportunities for investors are not mutually exclusive. We look forward to driving financial and social returns for our investors, the industry and communities at large.”
WelCan Capital’s Fund I will invest in companies that share in the firm’s vision and values of an ethical and sustainable cannabis industry that is well positioned for long-term success. Fund I will give back a portion of its profits annually to select organizations that have demonstrated efforts to move the cannabis industry forward in a responsible way.
Initial Fund I investments include:
Sanctuary Medicinals, a Massachusetts based, vertically-integrated licensed operator with a commitment to efficient production methods and outstanding patient care; and Treez, a leading enterprise SaaS platform for dispensaries that optimizes dispensary operations and customer experience
“At WelCan, we consider what the cannabis industry will look like in 3-5-10 years and focus on technologies and services that will be needed in the future,” said John Twomey, partner at WelCan Capital. “Our forward-thinking vision helps us handpick strategic early-stage and growth opportunities that will drive lasting change. We particularly believe that partnering with experienced management teams, who possess a clear purpose and track record of success, make the smartest investments.”