Irish-French venture looks to raise funds for investments in Europe

Share this:

An Irish-French investment fund says it is looking to raise €30 million in the first phase of a venture focused on private cannabis companies, including those in hemp and hemp derivatives.

The private equity Óskare Fund said it will offer investors the chance to join its portfolio in the medicinal cannabis space. The minimum investment is €100,000, and terms of the offer require investors to commit their money for at least four years.


Partners in the fund, Crossroads Capital Management, Ireland, and cannabis investors Óskare Capital of France, say it is the first such fund to be based in Ireland after approval by Ireland’s Central Bank in May 2020. London-based law firm Eversheds Sutherland is an adviser on the venture.

The partners said in a press release their strategy is to invest mainly in private companies that have “a broad global exposure to the cannabis industry,” including those in research, and makers of “devices, goods and equipment.” The fund will look primarily for European-based enterprises but will not invest directly in cannabis cultivation, according to the release.

Europe’s advantage

Paris-based Óskare Capital said Europe “enjoys the best regulatory environment for innovation and for research and development in medical and therapeutic cannabinoids”.

Óskare Fund said it will look to raise an additional €120 million in future funding rounds.

The partners noted that investors over the past year have plowed billions into similar funds in North America as legal frameworks for medicinal and recreational cannabis continue to be put in place. The recent listing of a publicly traded fund managed by Purpose Investments of Canada on the Irish Stock Exchange is also a positive indicator for cannabis ventures based in Ireland, the partners said.

Risks are noted

In its prospectus, the Óskare fund is described as “a long-term, potentially high-risk investment which is suitable only for sophisticated institutional and high-net-worth investors which are able to bear the risk of losing the entirety of the value of their shares.”

“Dublin is one of the world’s largest venues for managed funds and particularly for the more unusual asset classes,” said Deborah Hutton, a partner at Eversheds Sutherland in Dublin. “The potential for this kind of investment is massive.”

Share this:

Recent Posts

Proposed bill in Sicily aims to establish hemp as economic driver

A Sicilian Regional Assembly (ARS) member has put forth a bill aimed at expanding hemp farming and…

August 7, 2020

Dutch trade group deploys blockchain-powered tool to trace CBD

A Dutch trade group said it has developed a tool that lets consumers trace CBD…

August 6, 2020

Australian researchers studying hemp nutrition for animal feed

Researchers in the Australian state of Tasmania are studying the nutritional value of hemp for…

August 5, 2020

Hemp has potential in Myanmar, but corruption is a major barrier

A plan to legalize hemp production is in the works in Myanmar's House of Representatives,…

August 4, 2020

€7 million investment for factory to boost output of hemp blocks

Belgian hemp block maker IsoHemp said it has raised nearly €7 million to build a…

August 3, 2020

‘Hemp can work wonders for the agriculture of Latin America’

INTERVIEW: Lorenzo Rolim da Silva is a consultant to international companies in the development of…

July 30, 2020