NEW YORK, Sept. 23, 2019 — Altitude Investment Management, plc (AIM plc), announced today a $5.5 million investment in Switzerland-based KannaSwiss AG (KannaSwiss), the leading supplier of top-tier CBD isolate products in Europe. This marks AIM plc’s first investment in the European cannabis market.
Earlier this year, Altitude Investment Management, a leading New York-based investment firm focused on the emerging global cannabis industry, opened its office in London and raised $7.4 million for its newly formed UK-based investment company, AIM plc. The goal of AIM plc is to take advantage of the emerging and fragmented European cannabis marketplace by investing in foundational companies in the industry’s supply chain. With a population more than double that of the United States, a fast-growing CBD/wellness and emerging medical cannabis market, and deregulation steps that are beginning to mirror North America; Altitude believes that it will capitalize on this European early-mover advantage through AIM plc.
“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.”
The latest funding will allow KannaSwiss to materially scale its commercial ethanol extraction operations both in bulk sales of CBD isolate and distillate, as well as in the development, marketing and sales of branded products. AIM plc’s investment will allow KannaSwiss to fund additional production capabilities and biomass intake to meet its existing and rapidly growing customer demand. The funds will also accelerate KannaSwiss’ attainment of ISO 9000 and GMP certification further solidifying the company’s leadership position in the market. KannaSwiss has recently hired two additional chemists to focus on R&D for cannabinoid-enhanced formulations to address cognitive function, PMS/menopause, PTSD, mood enhancement, sleep and immune health.
“This significant investment from Altitude will help solidify us as the leading hemp extraction and product company in Europe,” said Ivan Enderli, co-founder of KannaSwiss.
“We have already established ourselves as a trusted brand of bulk CBD isolate and distillate and we are focused on expanding our existing product offering to consumers,” added KannaSwiss Chief Executive Officer Boris Blatnik.
“Swiss manufacturing holds itself to the highest standards, so I am confident that my team’s dedication to quality and innovation will produce a leading line of products on the European market.”
“Altitude believes the investment opportunity in the European legal cannabis industry is unique and presents compelling outsized risk adjusted returns. Experts project the CBD wellness market in Pan-European countries to be worth $416 million in 2019 and reach $1.7 billion by 2023, with medical cannabis coming in at $318 million in 2018 with rapid expansion to $8 billion by 2023,” said Stephan. “The path forward has strong support, and we are looking to be one of the first to support and grow the European market.”
Moving forward, AIM plc will invest in controlling and non-controlling interests in emerging private companies specifically across the legal European cannabis industry’s supply chain. Founded by John Brecker, Michael Goldberg, Rod Stephan and Jon Trauben, Altitude has an established track record of successful investments in the cannabis industry while navigating its ever-changing dynamics. Its portfolio includes Grassroots, EMMAC, Canndescent, Flowhub, SpringBig, PathogenDx, BDS Analytics and more.
About Altitude Investment Management, plc
Altitude Investment Management, plc is a European investment company that focuses on investment opportunities in the emerging legal cannabis industry throughout Europe. Headquartered in London, its mission is to create a portfolio of material ownership percentages in foundational companies and to be actively involved at the board level of these portfolio companies to create value for shareholders. For more information about Altitude Investment Management please contact firstname.lastname@example.org or visit www.altitudein.com.
About Altitude Investment Management, LLC
Altitude Investment Management, LLC is a US-based investment firm that invests in a diverse range of early-stage to growth companies supporting the fast-growing legal cannabis industry. Headquartered in New York, its members have been actively investing in the cannabis industry and have successfully invested in the alternative investment space for years. Altitude provides institutional-quality investment management experience to its investors. For more information about Altitude Investment Management please contact email@example.com or visit www.altitudein.com.
About KannaSwiss AG
Founded in 2014, KannaSwiss AG is a top supplier of high-quality bulk CBD isolate and distillate throughout Europe. The company also markets a wide variety of other trusted CBD-based products, such as water-soluble oils, tinctures, creams, cosmetics and other CBD/wellness products. Headquartered in Kölliken Switzerland, 40 minutes from Zurich, the company has three main divisions; Health & Wellness and Bulk Sales, which are active today; and a Medical division which is under development through joint ventures.
SOURCE Altitude Investment Management