Over the past year we have watched the global legal cannabis market grow, change, and begin to mature. Collectively, the partners have over 100 years of fund investment management experience and have managed investor capital in the alternative asset management space for the majority of their careers. Altitude is led by John Brecker, Jon Trauben, Michael Goldberg, and Roderick Stephan. Fund I commenced Maand is currently invested in 16 companies which emphasize the fund’s focus on investing in a diverse range of early-stage to growth companies supporting the fast-growing legal global cannabis industry. NEW YORK––(November 27, 2018) Altitude Investment Management, LLC (“Altitude”) announced today that it will close Fund I on Novemwith $30 million raised. NYC Based Cannabis Investment Firm Successful Fund I Raise, looks to Fund II
The state also has pledged to establish a $200 million fund for startup grants, loans and other assistance for them.Altitude Investment Management Closes Cannabis Fund I at $30M New York aims to provide 50% of its total licenses to such applicants. Other would-be dispensary proprietors will be able to apply later, with a focus on people of color, women, struggling farmers, disabled veterans and people from communities that endured heavy pot policing.
Altitude dispensary license#
“It’s really about writing a wrong,” he added.įirst-round license requirements also include experience running a business that was profitable for at least two years. It’s a “unique strategy that we’re implementing to try to make sure that those most impacted have real opportunity to participate here,” state Office of Cannabis Management Executive Director Chris Alexander said at a virtual news conference. The state announced this winter that the first round of retail cannabis licenses would go to businesses and nonprofit groups with a leader who was convicted of a marijuana offense or has a close relation who was. 25, 2022, to open its first crop of legal recreational pot shops, taking a novel approach by reserving the first licenses for people with past pot convictions or their relatives.
New York began accepting applications, Thursday, Aug. FILE - Marijuana plants for the adult recreational market are loaded on a tractor for planting at Hepworth Farms in Milton, N.Y., July 15, 2022. New York officials have emphasized that they want to make sure the new industry provides opportunity to people who bore the brunt of drug law enforcement, which fell disproportionately on Black and Latino people. states that have legalized possession and use of marijuana for adults.
Except for California, New York is the most populous among the 19 U.S. The application process is a key step toward opening one of the country’s most hotly awaited legal cannabis markets, but there’s no exact date yet for sales to begin. (AP) - New York state began accepting applications Thursday to open its first legal recreational pot shops, taking a novel approach by reserving the initial roughly 150 retail dispensary licenses for people with past pot convictions or their relatives.
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