Ireland's first ever private equity medical cannabis fund has been established.
The new venture has been set up by Crossroads Capital Management Limited (CCM) and Óskare Capital SAS.
The alternative investment fund is now to be marketed to qualifying investors around the world.
Óskare Capital is a French investment advisor that specialises in private equity, venture capital, cannabis, and medical and bio technology related products and strategies.
Dublin based CCM provides investment management services.
CCM and Óskare Capital were advised on the transaction by Eversheds Sutherland’s cannabis industry team.
"Our cross-practice cannabis industry team was formed primarily to help our clients navigate the regulatory uncertainty in this rapidly growing industry," said Deborah Hutton, Partner and Head of Asset Management and Regulatory team at Eversheds Sutherland’s Dublin office.
"With our ever-increasing industry and regulatory knowledge, we were delighted to provide comprehensive guidance and our insights throughout the formation of this unique fund, intended to deliver wide-reaching benefits for its stakeholders."
According to the law firm, the medical cannabis area is now an emerging industry and global asset class.
But knowledge and understanding of the legal and cross-jurisdictional complexities is evolving.