Venture capital is flooding into the cannabis industry, with New York-based private equity firm Tuatara Capital Partners recently closing an $80 million funding round.
Who are the smart and forward-thinking individuals bankrolling the future of marijuana? You’ll never know, because Tuatara will never tell, as Forbes recently reported.
Mark Riiska, Tuatara’s COO, says “getting people to make a commitment” in an industry that is still centered around a commodity that violates federal law is still a challenge. And part of that commitment is privacy.
Investors don’t always want to make it known that they’re investing in cannabis, Riiska told the website. “Confidentiality” was a key concern for many would-be investors, he said.
So, Tuatara’ investment round — now the biggest single investment round for a company focusing on cannabis, following the $75 million Peter Thiel’s Founders Fund sunk into Privateer Holdings, which is bankrolling the Bob Marley-branded Marley Natural line of cannabis products — has been made by mystery men and women.
One thing we know about these investors is that they want big returns — and they want them fast. Some investors want to be made whole in as little as two years, when usually it takes five to seven years for an equity investment to be returned.
Fast, aggressive — and anonymous. That’s your marijuana money.
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