The UK is scrambling to tap into the “green rush.” Sativa Investments, the first British firm focused on funding medical cannabis ventures, has started trading on Thursday.
Sativa started trading on UK’s NEX Exchange Growth Market after raising £1.1m or $1.99m CDN in IPO, British media reported.
Sativa’s investment strategy will focus on the production, testing, and compliance, research, and development, including pharmacology, commercialization, sales, and marketing of medicinal cannabis in countries where it is already legal.
The initial focus will be Canada, which will be the first developed country to fully legalize marijuana this summer.
In the UK, medical marijuana is still illegal.
The Daily Telegraph said the fundraising values Sativa Investments at £4m.
“This is the most exciting area I’ve invested in so far because of the scale of the opportunity and the benefit it delivers for people,” Thomas, who is a serial entrepreneur, said.
“It has been held back for too long because of political bias rooted in the drug wars of the Seventies. But public opinion has swung against this.”
Thomas expects his country to liberalize its laws to allow more medical cannabis products “within 18 months,” in the line of other countries such as Israel, Canada, Germany and 29 US states.