As the cannabis market continues to grow and investors and consumers become more attached to certain brands, Jane West is looking to capitalize on that. And give investors a chance to profit from its growth.
The company announced it has launched its first equity crowdfunding campaign on Republic, a crowdfunding platform, as it looks to raise $1.07 million by April 20th, a date that perhaps is no coincidence.
In a statement, CEO Jane West said the crowdfunding campaign, which gives investors the opportunity to own equity in the company for as little as $100, democratizes the investment process.
“The majority of Americans support legalization, but very few people beyond institutional investors and very wealthy individuals have opportunities to participate financially in the cannabis industry,” West said. “Cannabis is for everyone, and the ability to participate financially should be too. Through equity crowdfunding, we’re able to democratize the incredible financial opportunity available in cannabis. We want everyone, regardless of their resources or background, to be part of the most important new industry to emerge in our lifetime.”
West is renowned in the cannabis industry for creating Edible Events and Women Grow, a website dedicated towards women networking in the industry. With her own brand, West is looking to create cannabis-centric products for a number of areas, including accessories and curated goods.
The company originally had a minimum goal of raising $25,000, but it has since surpassed that. Jane West, which generates revenue via product sales and branded packaging, said it would use the money it raises “to capture the incredible opportunity to provide mainstream cannabis consumers across the U.S. and internationally with the accessories and products that will allow them to connect with the cannabis plant.” The company has previously raised $1 million from investors.
Support for legalization of marijuana has trended higher in recent years, with 61 percent of Americans in favor of it according to a 2018 study from Pew Research. However, Jane West notes that investment opportunities have not followed suit, noting only 2 percent of individuals can participate in the space, with most opportunities going to institutional shareholders.
Presently, the legal cannabis market is valued at approximately $8 billion. But experts expect that to surge over the next few years, reaching a value of $31.4 billion by 2021, making it important that investors are able to participate in the growth.