The first debt and equity fund to invest in medical marijuana has been launched in Illinois.
Called the Amerijuana Fund, the new financing vehicle provides investment opportunities for applicants who applied for licences under the state’s recently introduced medical marijuana law.
The convertible debt and equity fund has been launched by Stephen Denari who recently left the Prairie Wellness Fund to focus on growing the financial services offering for medical marijuana.
As well as managing the team of advisers looking after the American marijuana fund, Denari will continue to work as chief executive at his political consulting firm, the Political Action League.
Amerijuana will offer a mix of debt, equity, leasing, lines of credit and asset-based lending not requiring a full personal guaranty.