In a record-breaking fundraising effort, marijuana startup Marley Natural Fine Cannabis has raised a staggering $82 million from backers. The musician-branded cannabis brand is being launched by Seattle-based private equity firm Privateer Holdings, who were able to parlay a 30-year licensing deal in order to use Bob Marley's image and likeness.
The Marley Natural brand will sell heirloom Jamaican strains and is expected to be opening up for business in states where cannabis has been legalized by the end of 2015.
While this is the largest example of investors looking to invest in the growing marijuana industry, it is not without criticism, with some suggesting that American business interests stray from the core beliefs of the late Reagae singer. Regardless, as the legalization movement expands, there are sure to be more big ticket investments in the cannabis industry.
Musician-Branded Cannabis
Marley Natural Fine Cannabis is a Marijuana Startup with Major Backing
Trend Themes
1. Musician-branded Cannabis - Marijuana startups are collaborating with musicians to create new brands of cannabis, presenting a new and growing trend in the cannabis industry.
2. Heirloom Strains - Companies like Marley Natural are creating new strains of cannabis through special care and breeding techniques that make them more potent and desirable, changing the way cannabis is grown, sold, and consumed.
3. Investing in Cannabis - As more states legalize cannabis, there will be increased investment opportunities in the industry, allowing for further innovation and product development.
Industry Implications
1. Cannabis - With the expansion of legalization, new market opportunities in cannabis are presenting themselves, for example, musician-branded cannabis.
2. Music - The cannabis industry is collaborating with musicians to create new brands of cannabis, providing innovative new marketing opportunities for the music profession.
3. Private Equity - Private equity firms are investing heavily in the growing cannabis market, making way for new advancements and opportunities for entrepreneurs and businesses in the industry.