New York Investors Take Stake In Swiss Cannabis Firm

September 27, 2019

With a track record of success in North America a New York-based cannabis investment firm has now turned its sights to Europe.

Altitude Investment Management (AIM) established a London base earlier this year, and has now announced its first $5.5 million European investment. Switzerland-based KannaSwiss – a supplier of CBD isolates – says it will use the AIM cash to boost its production and medical research.

Altitude Investment Management has been an active investor in North America, with stakes in many industry leading lights including; The Green Organic Dutchman, BDS Analytics and Canndescent.


$7.4 Million U.K. Launch

One of its first European investments was into Spanish company Emmac Life Sciences and earlier this year it raised $7.4 million to launch the AIM vehicle in London. Its stated goals is to ‘take advantage of the emerging and fragmented European cannabis marketplace by investing in foundational companies in the industry’s supply chain’.  

Found in 2014, KannaSwiss is just such a company. Headquartered in Kölliken, about 40 minutes from Zurich, it currently has two divisions consisting of CBD health and wellness products and bulk sales. AIM and KannaSwiss say, in a press release, the cash will be used to develop its medical cannabis division, scale-up its extraction operations in both CBD isolate and distillate, and boost marketing and sales.  

It will also support efforts to secure of ISO 9000 and GMP certifications and focus on developing medical cannabis products to address ‘cognitive function, menopause, PTSD, mood enhancement, sleep and immune health’. KannaSwiss Chief Executive Officer Boris Blatnik said it is already an ‘established, trusted brand of bulk CBD isolate and distillate.

AIM Looking For $150 Million

He continued: “Swiss manufacturing holds itself to the highest standards, so I am confident that my team’s dedication to quality and innovation will produce a leading line of products on the European market.”

Roderick Stephan, a founding partner at Altitude says it is ‘excited about the prospects for European market’ and the company highlights reports which show the European CBD wellness market is to be worth $416 million in 2019 and reach $1.7 billion by 2023.

Over the same period medical cannabis will grow from $318 million to $8 billion by 2023, it says.

Altitude’s first New York capital raise, in 2016, secured $31 million for investments in 19 companies. And the firm is now targeting $150 million for its second fund, with Altitude ‘viewing this as a growth fund, rather than an early-stage fund for startup companies just beginning to generate revenue’.

For more stories like this this one, subscribe to the CBD Business Weekly Newsletter.

The post New York Investors Take Stake In Swiss Cannabis Firm appeared first on Cannadelics.





Also in Education

Missouri to Vote on Recreational Cannabis, Expungement Amendment

August 15, 2022

TESTSTSARDSAR

Missouri to Vote on Recreational Cannabis, Expungement Amendment by Aron Vaughan

Nov. 8, Missouri residents will have the opportunity to vote on legalization of adult-use cannabis.  Missouri passed a constitutional amendment for medical cannabis in 2018 and advocates are looking to build on the momentum in the state.  Amendment 3, the Marijuana Legalization Initiative, is on the ballot in Missouri as an initiated constitutional amendment. If […]

A link to your site, with your site's name and description as anchor text.

Continue Reading

Cannabis Europa 2022, lifting your head to see the horizon

August 15, 2022

The location of Cannabis Europe is a fascinating echo of an industry that has seen better times in the UK. Old Billingsgate market was set up in 1850 and ran at its location until 1982, the UK’s famous fish market then moved to new locations as the fishing industry declined.  The cannabis industry by any …

Continue Reading

2022 Cannabis Ballot Measures: Up to Six States Voting for Recreational

August 13, 2022

They’re not there yet, and they might not get there, but this coming November, at least three states, (and possibly six), are putting it up to voters in yet more cannabis ballot measures for recreational legalizations. Will we get up to 25 legal states by the end of elections? 2022 elections are going to be […]

The post 2022 Cannabis Ballot Measures: Up to Six States Voting for Recreational appeared first on Cannadelics.

Continue Reading