Scooter Braun’s empire has grown a little wider this week, as it’s confirmed that he has joined a $22m (€20m) financing round in a German cannabis startup.
Braun, manager of Justin Bieber, has joined a string of investors in Sanity Group, in what the company’s founders call the largest funding round yet in Europe’s cannabis sector.
Sanity Group focuses on the medical cannabis and ‘wellness’ markets. The round was led by Calyx and HV Holtzbrinck Ventures, one of Germany’s largest Venture Funds.
Braun has invested via his fund TQ Ventures, alongside others including Karan Wadhera – who is a partner at Snoop Dogg’s cannabis venture firm Casa Verde Capita.
But Braun isn’t the first major music biz manager to invest in the non-recreational cannabis sector.
MBW has learned that at least three UK-based power artist managers have taken stakes in a fast-growing London-based startup – Apothem Labs – that positions itself as a premium CBD ‘wellness’ brand and, our sources tell us, has already raised over $5 million.
CBD oil, for the uninitiated, is a non-psychoactive product derived from cannabis that many believe offers a range of health and ‘wellness’ benefits.
“Every day I hear of new benefits of CBD, from the wonder-plant hemp. It’s natural and has improved the lives of so many. I feel this is the tip of the iceberg; a game-changer.”
Bill Curbishley, Trinifold Management (Pictured)
Apothem Labs was recently called a “game-changing premium CBD brand” by GQ Magazine, and has inked distribution/retail agreements with both Harvey Nichols and the Four Seasons Hotel in London.
MBW has confirmed that Bill Curbishley of Trinifold Management (The Who, Judas Priest), Ian McAndrew of Wildlife Management (Arctic Monkeys, Royal Blood) and Colin Lester of Jem Music Group (Craig David) are all investors/stakeholders in the UK-based business (Apothem Research Ltd).
When we contacted Curbishley today, he told us of Apothem: “Every day I hear of new benefits of CBD, from the wonder-plant hemp. It’s natural and has improved the lives of so many. I feel this is the tip of the iceberg; a game-changer.”
Added Curbishley: “Knowing the benefits of CBD, it just needed a state of the art product. That’s Apothem, and it’s a privilege to be part of it.”
“There’s no doubt in my mind that cannabinoid-based products are the future of our wellbeing. That’s why I’ve invested heavily in Apothem.”
Colin Lester, Jem Music Group
Colin Lester told us: “There’s no doubt in my mind that cannabinoid-based products are the future of our wellbeing. That’s why I’ve invested heavily in Apothem, a CBD brand that has integrity, class and whose basic ethos is based on honesty.
“I have no doubt we will be a market leader in this area and I am really excited by the huge growth we have already seen.”
Music moguls who have invested in the cannabis sector include Snoop Dogg (obviously), whose Casa Verde has raised tens of millions of dollars to date.
Last year, Jay-Z struck a partnership with cannabis company Caliva.Music Business Worldwide
