Leafwire, a Denver-based cannabis technology platform, announced today the launch of its online marketplace. The goal of its marketplace will be to connect investors and entrepreneurs in the cannabis space and to help enable a better exchange of information and opportunities within the industry.
Although cannabis business owners secured more than $1.5 billion last year in investment, many in the industry still have difficulty to find the right investment partners; which is only worsened by the disconnect between state and federal cannabis laws.
“Legalization of cannabis opens up a huge opportunity, not only for cultivators and distributors but for the ancillary market that supports those companies,” said Leafwire CEO Peter Vogel. “Yet the investment community has been slower to support this industry than other emerging markets because of the lingering Federal regulations and existing stigma. That said, I have spoken to 100’s of investors who are looking for the right opportunities to explore in this market. Leafwire will help to connect those investors with the prospect that best meets their needs.”
The platform’s first offering will allow entrepreneurs to find investors that are interested in investing in the cannabis industry and vice versa. Both investors and entrepreneurs will be able to create profiles that detail their investment preferences, experience, and current needs.
Entrepreneurs will be able to search for investors based on several filters; including the stage of investment, location, and preferred type of cannabis business. Likewise, investors will be able to search for cannabis businesses based on their size and fundraising stage, company location, and company type.
Company profiles will also allow entrepreneurs to list their company’s products and services, making it easier for investors to find the right partner.
In addition to connecting entrepreneurs and investors, Leafwire will also act as a hub for cannabis news, regulations, allow private messaging, and provide updates from members of the individual’s user network.
To celebrate its launch, Leafwire will hold an inaugural Pitch-a-Thon on July 19, 2018, in Denver, Colorado. The contest will include pitches from six up and coming cannabis companies seeking funding and will feature a cash prize for the winner. Judges for the event will consist of senior executives from Kush Bottles, Phyto Partners, New Frontier Data, Wana Brands, and Denver Relief. The company also plans on holding additional pitch events later this year in Miami and Southern California.