Central Bank signs off on €150m legal cannabis fund
THE Central Bank of Ireland has given the green light for an Irish domiciled investment fund that is seeking to raise up to €150m to back companies in the legal medicinal cannabis industry.
The private equity Óskare Fund will be marketed internationally to wealthy private and institutional investors who can put in at least €100,000 to back a portfolio of investments based on the research, development and sale of cannabis-based products – but only for medicinal purposes.
Investors over the past year have ploughed billions into such funds in North America in line with legalisation of cannabis for both medical and recreational purposes. In January, an exchange-traded fund (ETF) focused on medical cannabis firms and managed by Canada’s Purpose Investments listed on the Irish exchange. read more