There’s a new private equity manager seeking to help new legal cannabis companies find capital.
Floris Capital Management said Tuesday it anticipates helping those seeking to invest in the industry find suitable companies, and expects typical investments will range from $1 million to $5 million. The firm mainly will focus on equity investments and will focus on companies involved in several areas, including growing, manufacturing, retailing and other businesses.
“Our management depth provides Floris the ability to get into the weeds and understand the best routes and methods to tap into the industry including: diversified sectors, varied geography, budding companies, existing brands and innovative technologies,” Skip Motsenbocker, president of Floris Capital Management, said in a statement announcing the firm’s formation.
The San Diego-based firm said cited estimates of a total U.S. industry worth as much as $10 billion in annual retail sales with expectations for tripling that in four years.