Leading investment crowdfunding platform OurCrowd is jumping into the hot cannabis sector. OurCrowd has launched a $30 million cannabis tech fund called 7thirty Opportunity Fund.
OurCrowd said it will build the “world’s leading global cannabis technology venture capital fund.” The new fund is said to be focused on cannabis technology companies in Medtech, Agtech, retail, e-commerce, marketplaces, SaaS solutions, and the deep-tech research in Cannabis. Headquartered in Boulder, Colorado – a state that has legalized recreational use of marijuana, the fund will be active globally and include activities in Israel, Canada, and the United States.
“The explosive growth of the legal and medical cannabis market is quite impressive,” said OurCrowd CEO Jon Medved. “Canada recently legalized cannabis nationwide and Israel is in the final stages of legalizing cannabis export. The amount of serious medical research in cannabis is booming. This market will generate unprecedented global investment activity and returns for cannabis-focused startups. Together with 7thirty, we plan to lead investments for serious companies who will pioneer technology for this important and growing market.”
OurCrowd says the 7thirty Opportunity Fund is led by the U.S.’s most active early-stage Cannabis Technology investor, Micah Tapman as Managing Partner and co-founder of the fund.
Prior to founding 7thirty, Tapman was a co-founder at CanopyBoulder, where he led investments in more than 90 cannabis-related companies. Several of those companies are now prominent in the cannabis market, including Wurk, BDS Analytics, and Front Range Biosciences.
Tapman said he is pleased to welcome OurCrowd to the 7thirty Opportunity Fund.
“Israel is a recognized leader and pioneer in cannabis technology, and OurCrowd has a demonstrated track record as a value-added investor. Together we plan to bring an institutional discipline and rigor to the cannabis technology investment market.”
“OurCrowd has already invested in leading Israeli cannabis technology companies such as Syqe and Edenshield, and now together with 7thirty we look forward to combining our Israeli deal flow with their North American leadership in the industry to create a truly winning fund formula.”
OurCrowd, a leader in equity crowdfunding, has raised over $900 million and invested in 170 portfolio companies and funds.
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