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While you may pick up some skills, I don't think the skills you pick up will be that translatable to other banks.
Much of banking is governed by federal laws. Particularly moving money around.
Moving money around is a big part of investment banking.
Federal laws cause problems for money moving around to support cannabis businesses.
It's interesting but I see it as a huge gamble. I'm sure you'd have some awesome experience for your b-school apps, but I feel it could potential disqualify you from many positions if you were to look for work outside of the cannabis market. I really don't know how a typical HR department would view past experience working with cannabis companies so definitely don't take my word for it.
That said, I wouldn't advise against committing to the cannabis industry if you are that interested in it. If we see a wave of legalizations the industry will have serious demand for investment professionals. There's definitely a great deal of money to be made in that space.
I can see how it would be very risky. However, I thought it could be extremely interesting and possibly a great sector to be in down the road. I guess only time will tell.
What's this boutique called if you don't mind? Electrum? That dude looks like he has some good stories
VERY INTERESTED AS WELL. WHAT'S THE NAME
you should be s'toked' to have an opportunity like that. you're going 'high' places.
The firm is called Viridian Capital. I am not interviewing with them, I was just wondering out of curiosity. I came across them on a google search. I also see that a firm called Midtown Partners is trying to enter the space as well. Anyone else know of any other firms that are in the space that are having success? if any?
Unfortunately you'll find that they're going to be very small PE/VC type shops. The big problem is that federal regulations make it risky to operate inter-state if you're involved in the Marijuana business, possibly resulting in asset seizure (which any broke government is pre-disposed to err on the side of). Consequently any shop that does this is going to have their operations only within Colorado which isn't the best market for IB.
I completely agree spider, but we are now seeing more and more companies operating in this space. I am wondering if it would be a good move to jump on this ship now before it sails.
On a legitimate note, I would say go for it.
Marijuana is going to most likely be recreationally allowed in the next 15 years (if not sooner) and medical will keep popping up. You'd be able to carve out a very niche skillset (even though the basics aren't niche) and you could be a leading expert when it all explodes.
The Baked Banker. That should be on every business card you have.
VC - emerging US market - cannabis (Originally Posted: 08/04/2017)
Cannabis is one of the most promising markets in terms of VC investments now. Recent IPOs in Canada bring even more money into the sector. What do you think about it? Do you belive in cannabis investments?
Sure, if we could get it legalized on a federal level first though
I have made some pretty strong unrealised gains from an investment in GW Pharmaceuticals which I made in early 2013, so whilst it is clearly a risk / volatile sector which is subject to heavy regulatory scrutiny, it is one which I keep my eye on closely.
Investments in GW Pharma stocks was really good idea in 2013. But currently there are a number of other companies on the market with canna pharm products, and also GW Pharma sales still low, compare to their market valuation. Do you see other points of growth?
BUMP
Experience in Cannabis Industry? (Originally Posted: 09/27/2016)
I have an opportunity for a finance position at a a company involved in the cannabis industry. The position would be pretty broad and include due diligence of investments, modeling, pricing, strategic analysis, etc. Overall, the role looks fairly interesting (blend of IB & consulting) and I would probably be on a fairly small team with a lot of responsibility. However, I am worried if I decide the role isn't for me a year or two in, how will future employers view experience in the cannabis industry. The negative connotation worries me, especially in the rather conservative finance industry where this could draw some strange looks.
Any thoughts? It would be my second job out of school, so I don't want to sabotage my career prematurely.
Just to clarify, the company itself is wholly focused on the cannabis industry, this is not an investment fund or other venture.
Bump
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