Steve Gormley Talks About Seventh Point's Private
Equity Fund and Investing in Legal Marijuana Dispensary Assets in Los Angeles
Point Roberts, WA, Delta BC – July 13, 2016 –
Investorideas.com, a global news source and investor resource covering actively
traded sectors including cannabis/hemp and medical marijuana stocks interviews CEO
and Founding/Managing Partner of Seventh Point, LLC, a private equity firm
investing in assets in the sector.
Seventh Point, LLC is a private equity firm that
assembles, owns and operates private equity funds. Seventh Point's private
equity funds invest in the acquisition and build-out of legal marijuana
dispensary assets and cultivation facilities, industry related technologies and
industry related lending platforms.
Seventh Point, LLC combines Fortune 50 financial
industry best practices with best of breed cannabis industry expertise.
When asked what his motivation was for entering the
sector he explains quite honestly, “I was motivated by money and I am
impassioned by the mission that comes along with advocating comprehensive
decriminalization.”
Steve tells Investor Ideas that their current focus
for legal dispensary assets is in Los Angeles. Steve compares Los Angeles to
the legal dispensary industry as to what Silicon Valley is to tech. “Our investment units contain a dispensary
asset that includes the license and the business as a going concern. Right now
we are in the process of closing on our first investment unit. We have a signed
purchase agreement for a profitable compliant legal medical marijuana dispensary
and its related assets. We plan on acquiring ten of these and capturing ten
percent of the market in Los Angeles. We are also looking at other opportunities
throughout California.”
He said they plan on retaining management but
running the company at the highest level and using their Wall Street know-how
to grow the business.
Steve noted that the private equity fund’s mandate
is to deploy $75 Million over the next 36-42 months and said they have more
than enough capital under management to execute.
When asked what kind of investors are attracted to
the space, he said institutional investors are still on the sideline and that
entrepreneurial investors, private investors, family funds are getting educated
to make deployments in the sector.
On a personal note he said. “We consider the
Government’s law on marijuana is racist.
We think a disproportionate number of young men of color are being
prosecuted for non-trafficking related offenses at an alarming rate and created
havoc for American taxpayers, as well as the communities at large. While our
corporate identity is predicated on activism and advocacy, make no mistake, we
are a traditional private equity firm and we are driven by the clear and
inevitable business opportunity in marijuana.”
Read this release in full at http://www.investorideas.com/news/2016/marijuana/07131.asp
Steve Gormley Bio:
Steve is a renowned expert in the legal marijuana sector
and whose analysis is featured prominently in outlets like Forbes, Wall Street
Journal, CBS News, US News and World Report, Chicago Tribune and Marketwatch.
Steve is a partner in a retail hydroponic supply distributor outfitting
commercial-grade cultivators in the Los Angeles area.
Steve Gormley has nearly twenty years’ experience
developing, branding, marketing, launching, managing and operating businesses
in the US and international markets. He has lived and worked in Asia, Europe,
South America and Australia. Steve got his start in media in television
production in the early 90’s. After developing content and producing for MTV,
Paramount Pictures, Tribune and others, Steve leveraged his expertise in
content into the online sector for a new media private equity fund in the late
90’s and early part of the new century. Steve helped develop, launch, manage
and sell a number of new media properties and eventually founded a branded
entertainment company in China. Steve has also served as managing director for
a California based media private equity fund. He deployed C-Level Management
Services specializing in start-ups and turn-arounds.
Follow the Sector with the Investorideas.com cannabis/hemp and medical
marijuana stock directory: http://www.investorideas.com/MSS/Arg_Stock_List.asp#Marijuana
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