Member Spotlight
PorterPartners, LLC – Special Advisor for Cannabis Industry Matters
As FON continues to add member benefits and dedicated resources to create additional value for its members in new and emerging industry sectors, cannabis is certainly at the forefront. PorterPartners is a new addition to the team as a special advisor on cannabis industry matters and is available as a free resource to our members.
Cannabis covers a lot of territory, and dates back less than two decades in the medical marijuana (and later recreational pot) sector in certain states in the United States, although conflicts between state laws and federal laws still remain. Canada has recently legalized recreational marijuana, but it is anybody’s guess as to if and when this will occur in the U.S. Hemp, and cannabinoids derived from hemp (CBD, CBG and the like), are new to the cannabis scene, with partial legalization in 2014, and full federal legalization only since 2018. However, there are still many gray areas involving hemp and CBD while the USDA, FDA and DEA finalize policy decisions.
PorterPartners provides merchant banking services within the cannabis industry in the United States and Canada and is also looking ahead to certain European countries. Its team sees a lot of deal flow, vets a lot of investment opportunities, and is available for discussions with FON members on any aspect of the cannabis industry. Their team will tell you what they know; give you their opinion; answer your questions to the best of their knowledge; and refer you to other trusted sources if they don’t know the answer. A conversation is a two-way street, and Porter Partners is keenly interested in hearing what family offices are doing in the cannabis sector and learning about where they think things are going.
There is an old adage that says, “Some of the best deals you do are the ones you don’t do” and that is true right now given the adverse market conditions affecting the hemp and CBD sectors. PorterPartners is bullish on the future of CBD, but bearish and cautious on current investment situations. In fact, some of the best opportunities it is seeing now are fire sale asset acquisitions in the cannabinoid extraction and processing arena. The firm is also seeing some excellent opportunities currently in the medical marijuana sector in the U.S.
For information, email Managing Partner Dean Porter at dean@porterpartnersgroup.com or call 843-849-3191.
