Nick Bell, who has managed to list himself in the Young Rich List and is the top official of WME (a digital marketing agency), has an optimistic outlook on the cannabis industry and has decided to make an investment in Cannvalate, which is a medical cannabis company. The investor (Mr. Nick Bell) have decided to bet on the alternative medicine after going through numerous knee reconstructions. He has also done rigorous research with respect to medical cannabis. He has also undertaken a tour to the United States which revolved around understanding the medical cannabis industry. This tour was with his friend Tristan Sternson.
As per the statements of the Nick Bell which he told to the major Australian newspaper, the top official of Cannvalate, Sud Agarwal, have contacted Nick Bell when they were on their study tour in the United States and after they got back in Australia, they had a meeting along with the team of Cannvalate. However, the meeting ended on a positive note. According to Nick Bell, the top management of Cannvalate is having a rich experience of the medical cannabis domain. By leveraging their expertise, the company might achieve their long-term objectives which would ultimately benefit the investors. As per Nick Bell’s comments to the major Australian newspaper, the other investors in Cannvalate also come from the rich background of the medical professionals. However, this means that the management team of Cannvalate is strong and the company might achieve the long-growth prospects. Strong support base and excellent leadership might help the company in garnering the investors’ interests when it gets listed on Australian Securities Exchange or ASX.
Cannvalate was founded by Dr. Agarwal along with the two other medical professionals named Darryl Davies as well as Asaf Katz. The company managed to clock a valuation amounting to $40 million and it has also raised $4 million and that too within the time span of 7 days. However, Tristan Sternson has also made an investment in the company and was on board. Mr. Nick Bell have unloaded the domestic operations of WME to the Melbourne IT for the total considerations amounting to $39 million in the previous year. However, he is still the owner of the international operations.
The investment decision Nick Bell clearly reflects that he assumes favourable outlook on the medical cannabis industry. In addition to that, the strong management team would also help the company gaining strong momentum in regard to the growth prospects. He stated that presently the industry has lesser players, however, the industry’s size is expected to increase moving forward. According to him, if the education is provided to the right people, the industry would be positively impacted. While Mr. Nick is not new into the world of investing in the start-ups, deployments in Cannvalate marks his first investment when it comes to the alternative health industry.
Moreover, Mr. Nick Bell was also looking for fresh investment opportunities and it seems like this opportunity of making an investment in Cannvalate came in his way.
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