The opportunities are wide-ranging: Everything from exotic strains of marijuana to concentrated edibles to topical creams fortified with CBD extracts, as well as clothing and jewelry lines are all being offered to consumers.
CW Hemp, a family-owned company based in Colorado, is known nationwide as the exclusive provider of Charlotte’s Web, which the company has dubbed as “the world’s most trusted hemp extract.” Founded by the Stanley brothers of Colorado, the company’s mission is to provide the best medicinal product to those who are in serious need.
When it came to getting their businesses set up, the Stanley brothers were on an interesting road in terms of investor interaction. “We’ve built one of the strongest marijuana brands in the world, and we’ve done it with less than $4 million in total outside capital, with a majority of that money coming from Florida-based investors who wanted to feel good about what they were doing with their money,” says Joel Stanley, CEO of CW Hemp. “They believed in our mission. We’re constantly asking ourselves if we want to bring in an outside investor, because who doesn’t like to feel more secure? But we’re very proud of how we built a family business with small investments.”
Bonita “Bo” Money, one of the few women of color in the cannabis products industry (“less than 3%” she estimates), has been an enthusiast for years, calling it “a miracle plant,” relying on the medicinal value of the substance as the key ingredient for her popular topical cream That Glass Jar. “People need to be properly educated. There’s too much misinformation and part of my job is to ensure that people understand the benefits,” she says.
Money is also the founder of the networking organization Women Abuv Ground, aimed at what she calls “cannapreneurs.”
“I don’t get high,” she says. “I’m interested in the healing properties of CBDs and how people can heal naturally. My company makes no medical claims and we can only gauge its effectiveness by the people that have used it for various ailments. But from what I’ve seen, this product is of huge benefit for multiple health issues.”
And when looking for investors to work with, she turned to some private sources, while mostly self-funding her endeavor. “I’ve had the chance to work with some very like-minded people who believe in this cause. I’ve been courted by major companies, but I didn’t want to give up control. I’ve been discussing a potential collaboration with my mentor, Dr. Charles Hensley, the creator of Zicam, and I’m developing an animated series called ‘The Pot Headz’ and a reality project centered on the cannabis lifestyle. I’m very excited about what’s coming up.”
Taking a different approach to investors is MedMen, a leading cannabis firm with nationwide exposure, based in Los Angeles. MedMen management offers turnkey services to cannabis license holders, while MedMen Capital operates as a strategic investment group working in key markets across the United States and Canada.
“Nearly two decades after California became the first state to legalize medical marijuana, we now have 28 states with legalized medical marijuana,” says Adam Bierman, MedMen’s co-founder and CEO. “Last November, the number of states with legalized recreational use doubled to eight. As marijuana becomes more accepted by the mainstream, its appeal also broadens. It’s not just about stoners rolling up joints. It is about highly productive and functional professionals choosing a cannabis vape pen over a glass of Scotch, or Chardonnay moms shopping for CBD-infused bath bombs and cannabis edibles.”
In terms of investment opportunities and the way MedMen is structured, Bierman is candid about the emerging opportunities. “Everything at MedMen has been earned,” he says. “When we started out, there weren’t any large-scale cannabis investment firms in operation. MedMen is primarily self-funded, and we did receive some early capital from a wealthy family in Florida who believed in our mission and wanted to be a part of the industry.”
MedMen has grown quickly, now employing more than 100 people across all its departments. Bierman says the company has seen “over $130 million in project development in the cannabis space over the last 12 months.” And despite a rapidly changing landscape with more players arriving by the month, Bierman is confident with how MedMen has progressed.
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