New York-based investment firm Altitude Investment Management, plc (AIM plc) is taking the EU plunge and making a $5.5 million investment in Switzerland-based CBD company KannaSwiss AG (KannaSwiss).
“My partners and I have been laser-focused on investing in the legal cannabis industry since 2016. We raised approximately $31 million in our first cannabis vehicle which has been invested in 19 companies across the industry,” said Roderick Stephan, co-founder, and partner of Altitude. “While the CBD/wellness market is thriving, the medical and legal cannabis markets in Europe are in their infancy. We believe that over the next couple of years, medical cannabis will be generally available across Europe and some countries will also allow recreational consumption. The market is poised for tremendous growth just as it has in the U.S.”
