Earlier this year, the parent company Vestinwolf Holdings had announced plans to aggressively widen it's alternative asset management business, setting asside €100 million for the same.
VCAN seeks to invest in companies across the cannabis industry. This includes companies involved in the legal production, growth and distribution of cannabis and industrial hemp, as well as those involved in providing financial services to the cannabis industry, pharmaceutical applications of cannabis, cannabidiol (i.e., CBD), or other related uses including but not limited to extracts, derivatives or synthetic versions.
Globally, legal cannabis sales increased 48% from 2019 to 2020, exceeding $21bn. Forecasts suggest the market could surpass $55bn in 2026.
Efforts to legalize cannabis are making progress in many countries, including the US. More than two-thirds of Americans live in a state where a form of legal cannabis is available. Vestinwolf Group has been lobbying for legalization of cannabis production in India, which is home to the some of the world's best naturally growing marijuana across the Himalayan range. The Himalayan state of Uttarakhand in India recently legalized commercial cultivation of cannabis, other states are expected to do the same in the future. VCAN is among the few handful of institutional investors in this context through its stake in Arvansis Green Ventures, AgroGenesis Regenerative and Bombay Hemp Co.
VCAN follows an aggressive investment approach for high growth and value opportunities. The fund will not pay out any capital gains for the first three years, ploughing them back to make most of the early-stage that we are in with respect to the Cannabis industry.
Key investor information documents will be made available on investor dashboard along with risk disclosures and prospectus. The fund will publish it's updated NAV on a monthly basis.
For more information, contact your Private Banking Associate or Wealth Manager.