Floris Capital Management, LLC, (“Floris”), a new San Diego based equity firm, has launched a $40 million fund focusing on legal and regulated areas within the cannabis companies.
The Floris Focus…
Floris will invest in cannabis companies located in any state that allows cannabis, whether recreational or medical. Many of the companies will be startups less than three years old or companies that have recently landed regulatory approval to operate.
The fund will focus on strategic investments in six primary legal and regulated areas including; cultivation, branding, manufacturing, real estate and other ancillary related businesses. By diversifying the fund, it not only reduces risk but this allows for an opportunity that will enable cross-market leveraging between the portfolio companies which can increase the chance of success amongst all portfolio companies.
Skip Motsenbocker, president of Floris Capital, stated, “This is an important distinction as the ancillary space, we believe, has become overcrowded, and our multi-sector approach represents both a better diversification strategy and anticipated return on investment”.
The fund will make a total of 12 to 18 investments over its five-year investment life. Floris will provide funding, financing and/or capital primarily in the form of equity investments.The investments would typically range from $1 million to $5 million. The stake in each company would be based on many factors and various metrics the team utilizes to evaluate each opportunity.
Meet the Management Team
Skip is the Founder and President of Floris Capital. Before founding Floris, Skip was the managing partner and investment committee member with the RIA SignalPoint Asset Management. He also was on the management team for Potomac Fund Management and worked in private client advisement with Wachovia and Wells Fargo. He has extensive experience in business consulting, brand development and consumer products, providing both Fortune 500 and private companies financial guidance, reorganization strategies, efficiency improvements and team leadership building.
Will is Co-Founder and Vice President of Floris. He is also the founder of Urbn Leaf, a chain of branded retail cannabis dispensaries. Will has successfully built eight early-stage medical cannabis businesses, including the largest medical cannabis dispensary in San Diego’s history. Not only does has he navigated permits through the San Diego City CUP process but he also has interest in five licensed dispensaries in San Diego. His depth of knowledge in the cannabis industry is a key component to deal identification and metrics to evaluate potential investments for the fund.
Tom is the Managing Director of Floris Capital. Tom is a Chartered Financial Analyst (CFA) and a financial services executive well-versed in building capital markets advisory business units. He has executed merger-and-acquisition transactions assisting private companies with purchase and sale options and has years of experience working with private equity firms, investment banks and attorneys on transaction advisory services.
The key team members who advise Floris Capital provides expertise in finance, accounting, legal and industry knowledge. They will assist in sourcing deals, vetting deals, along with guiding and evaluating the opportunities that would be ideal for their investment strategy.
This team includes:
Micah Anderson – Cultivator with decades of experience understanding the nuance of farming and grow facilities.
Mark Piesner, Esq. – Led the largest US cannabis manufacturing facility over the last decade.
Nathan Shaman, Esq. – Cannabis attorney who represents cannabis businesses in Southern California.
Joseph (Chip) Dow Sheppard III, Esq. – Activist and advocate for the legal cannabis industry.
Loni Woodley, CPA, ABV, CFF – Accountant with extensive experience in cannabis
Are you an entrepreneur wanting to learn more about this fund? Or are you an investor looking to partner with Floris Capital? You can learn more by going to www.florisfunds.com
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