JourneyOne says it’s closed a $10 million fund and has started making its first few investments.
The fund’s solo fund manager, Helene Servillon, says there’s only a specific amount of time until Andreessen Horowitz, First Round Capital and Sequoia Capital are starting to play in this industry.
Servillon noted that there are other big players in this space, especially on the corporate side of things.
The fund is dedicated to investing in founders with senior-level executive experience within the cannabis industry.
JourneyOne Ventures has already started to invest in startups that are creating B2B software customized for the cannabis industry, biotech and consumer products including Komplyd, Nabis, Cellibre, Wunder and Plant People.