Artemis Tenacious Group created to drive investment in legal cannabis
Global cannabis industry investment firm Artemis Growth Partners and cannabis consumer products group Tenacious Labs have created a partnership to facilitate investment in the multibillion-dollar global cannabis market.
The new investment platform, named Artemis Tenacious Group, has been created following investment in Artemis Growth Partners from Tenacious co-founder Adrian Clarke.
The private office of Bacardí shareholder Clarke has made a “significant minority investment” in Artemis.
The investment by Clarke, in conjunction with the family of the late Chuck Feeney, founder of luxury goods retailer Duty Free Shoppers, expands the partner capital base of Artemis and bolsters its “leadership position” as an impact investor in legal global cannabis.
Artemis has to date invested in 39 companies spans North and South America, the Caribbean, the UK, and the EU.
Artemis Tenacious Group will be led by Clarke, Nick Morland, chief executive officer of Tenacious Labs, William Muecke, and Stanton McLean, both managing members of Artemis Growth Partners.
“Our deal brings together dynastic knowledge from adjacent, non-cannabis industries into one consolidated global operating platform that will deliver the best of both Tenacious Labs and Artemis Growth Partners to cannabis operators and investors alike,” said Clarke.
“The formation of Artemis Tenacious Group marks a pivotal moment where premium non-cannabis independent investors and stakeholders are joining forces to onboard the rapidly growing cannabis industry into the mainstream.”
Artemis Growth Partners’ Muecke added: “With Tenacious Labs joining us under the Artemis Tenacious Group banner, we add an operational string to our bow as a fund manager and as an investor.
“For the founders, entrepreneurs, and management teams of our investment portfolio companies, the venture with Tenacious Labs broadens our offering of portfolio management services, including customised technical assistance, on-tap experienced advice, and hands-on operational support.
“For our investors, we believe that the enhanced capital resources and dedicated operational services of Artemis Tenacious Group reduces overall operational risk while enhancing our portfolio investment returns across all six of our managed equity and debt investments funds.”
McLean said: “We look forward to capitalising on the opportunities that the Artemis Tenacious Group partnership will undoubtedly bring to all of our stakeholders, partners, and investors across the cannabis industry.
“With continuing regulatory reform, and broad public market support for widespread legalisation, we believe the future of cannabis investing is very bright.”