Although the legality of cannabis on a national level continues to puzzle many around the country, the industry has not skipped a beat in terms of growth. With many businesses working to get their foot in the door, it seems like Wall Street may be the next big player to get into the cannabis market.
The company Green Table is one of many businesses working to get to the forefront of the cannabis industry. Green Table has been working as a networking business, helping to bring investors together with entrepreneurs in the industry looking to give funding. The industry as a whole has been able to reach as high as $7 billion thus far, with a growth rate of over 29% moving forward. Peter O’ Dowd of Green Table stated that “We are getting great traction. We only launched a year ago. We do it at beautiful locations or in states that are having critical opportunities like, for example, July recreational here in [Massachusetts]. That’s what attracted us here. We have institutional backgrounds in terms of capital markets.” The theme of individuals moving from other, more notable industries continues to fuel the cannabis market with a large amount of qualified individuals.
O’ Dowd further stated that “We’re Wall Street, guys … and we noticed that there was an opportunity in the cannabis marketplace in terms of capital raising at the highest end, at the premium level, where people who have big checks to write — and we’re talking about private equity funds, ultra-high-net-worth individuals.” This opportunity is something that continues to present itself as the whole of the cannabis market moves forward. Throughout the country and beyond, individuals have been flocking to marijuana to try and make businesses out of such a new market. According to O’ Dowd “It is becoming mainstream, and in a lot of circles, especially in financial markets now, it’s a question of when not if. And then that’s overwhelmingly reflected in the way Americans are being polled, and the dollars, the large dollars we are seeing. For example, in private equity, which is strictly related to cannabis, they started out with $5 and $10 million funds. We are now seeing $50 and $100 million funds just a year later coming to market.” These types of large investments are extremely necessary for any of these companies to flourish in an industry where cash matters. O’ Dowd’s company was able to raise as much as $120 million last year for one company in the industry. These large investments also continue to show how devoted the investor base is to cementing this market throughout the country.
O’ Dowd went on to state that “We have packaging companies that are going public, not just in Canada, but also in the United States, that are raising money just for branding and marketing because at the end of the day, this is becoming a consumer product just like your mainstream detergents and laundries and cereals.” The fact that the market is becoming so mainstreamed, and continues to fuel even more investors in the space. O’ Dowd then stated that “this is going to be something that’s going to become a mainstream consumer product in the next several years.” The hopes are high that the combination of investors and individuals who would like to see the marijuana market grow, will continue to build the market of the future. Only time will tell how well these investments can continue to grow the space. With companies like Green Table helping to build the market from an investor standpoint, it seems now that anything within the realm of cannabis is now a possibility.
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