Forma Holdings (Forma), an international diversified cannabis company co-founded by Kingsley Capital Partners which operates in legalised, medicinal cannabis markets, has completed its first asset acquisitions and launched its second capital raise, targeting at least GBP10 million for expansion.
This follows the success of a fund raising earlier this year, the proceeds of which were used to acquire Forma’s initial US assets in the Southwestern United States.
This latest fund-raise will harness the rapidly growing interest in the US & Europe in the medical cannabis sector. Proceeds will be used to invest in growing the business and expanding in both the US and internationally.
The pharmaceutical market also provides a large opportunity, as the medical benefits of cannabis continue to be identified, allowing for the creation of drugs based on the cannabis plant that treat diseases.
Changing legislation in states across the world means patients are increasingly using medical cannabis for the treatment of a variety of conditions.
Forma has been funded by family offices and biotech entrepreneurs and has already completed its first cannabis asset acquisitions. Proceeds from its next fundraise will be used to continue expanding its Retail and Cultivation division.
Gavin Sathianathan, CEO of Forma Holdings, says: “We are excited as we look to the next phase of our growth. The medical cannabis market is rapidly evolving both in the US and the rest of the world. Teams that blend traditional business skills with knowledge of cannabis operations are best placed to succeed.
“There is now significant interest in the US & Europe in investing in the sector. Forma has established a strong foothold in a short space of time and we have delivered on many of our strategic objectives, including acquiring assets in the US. We have a unique market opportunity available to us and great potential for growth.”