Ghost Group, a Southern California-based venture capital firm primarily focused on the emerging marijuana industry, has launched Emerald Ocean Capital, a fund that invests in market-defining companies and technology in the legal cannabis and medical marijuana sector.
Additionally, Ghost Group has launched the Ghost Domain Capital fund, which invests in “category killer” Internet domains that are mostly oriented toward B2B solutions. Both funds seek to provide an attractive rate of return, with investors benefitting from full collateralisation, pass-through and the upside of cash flow generated by management.
The launch of Emerald Ocean Capital comes at a time when a majority of Americans favour legalising the use of marijuana, according to a national survey conducted in April by the Pew Research Centre.
“The marijuana industry is poised to grow exponentially, and Emerald Ocean provides an opportunity to invest in companies that are pioneering the space and gaining traction in this multi-billion dollar industry,” says Justin Hartfield, general partner of Ghost Group, who manages the fund with general partner Doug Francis. “With the legalisation of marijuana in Colorado and Washington for adult use, government officials and the public at large are leading the way to legalising marijuana nationwide.
“Similar to the end of prohibition, the marijuana industry is in a transformative era, and Ghost Group and its host of companies are well-positioned to take advantage of the unrealised potential of this burgeoning sector.”
