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Salveo Capital re-launches cannabis fund

Salveo Capital has re-launched Salveo Fund I with the addition of managing directors Michael Gruber and Jeffrey Howard and director of fund operations Achint Prabhat to the existing team of partners Alex Thiersch and John Dohm and director of communications Eric Atienza.

Salveo is a venture capital fund with offices in Chicago, Illinois, that will invest in emerging growth companies within the cannabis sector. The addition of the new team members brings investment, fund management, capital markets and due diligence experience to complement the existing team.
 
Gruber has over 20 years of experience working with early stage investments, particularly in the information technology, financial services, energy, and agriculture sectors. Gruber has founded and run several private investment organisations of high net worth investors and family offices focused on growth stage investments, including Cornerstone Angels and its affiliate Cornerstone Opportunity Partners. Collectively, the portfolio companies have raised in excess of USD2.5 billion in capital. Gruber is a founding partner of Independence Equity, a committed venture capital fund with key areas of investment interest including water; energy efficiency; material science; and agriculture.
 
Howard spent 21 years on Wall Street in roles of increasing responsibility. Howard’s last role on Wall Street was with the Royal Bank of Scotland (RBS) where he was a managing director – global head of prime services. His responsibilities included running global futures, OTC clearing, interest rate prime brokerage and FX prime brokerage. In that role he managed 90-plus people across North America, EMEA and Asia Pacific, was responsible for the growth strategy of USD150 million business and managed a USD50 million front-to-back budget. Howard leverages his 20-plus years of senior-level capital markets experience to source deals and perform due diligence on emerging cannabis focused companies, while providing financial and operational risk management guidance.
 
“I am excited to be part of this highly qualified Salveo team that brings together strong investment and cannabis sector expertise,” says Gruber. “We continue to have great access to exciting opportunities and quality management.”
 
Salveo's primary investment focus will be early stage businesses enabling the cannabis industry, but which are generally ancillary to the production or processing of the plant and not subject to state regulations. Key areas of interest include financial, payments and banking; grow systems, agriculture and operations; software, digital and internet; chemistry, science and genetics; and business services.
 
The fund will be a committed capital fund and will only be available to accredited investors and qualified purchasers. The fund’s objective is to achieve long-term capital appreciation by investing in early-stage companies servicing the cannabis industry.

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