BEVERLY HILLS, Calif., May 23, 2017 /PRNewswire/ — StarGreen Capital announced today its plans to invest $100 million over the next year in California’s legal medical and recreational cannabis industries. StarGreen will provide capital and business development services to qualified partners representing every segment of the industry from “seed to sale.” Initial areas of focus for investment will include partnering with cultivators, manufacturers and retailers to acquire, develop and lease real estate, expand operations, and build cannabis consumer brands.
The firm’s goal is to help entrepreneurs at every stage of growth capitalize on the generational growth opportunity in California’s legal cannabis industry. According to the market analysis firm AMR, North American consumers spent $6.9 billion on legal cannabis products in 2016, up 30 percent from $5.1 billion in 2015. California accounted for more than 30 percent of the legal cannabis market in 2016 with some analysts projecting greater than 20 percent annual growth through 2021.