FRANKFURT-based medical cannabis holding company Bloomwell Group (“Bloomwell,” “Bloomwell Group,” or the “Company”) has closed a significant multi-million Euro funding round led by Artemis Growth Partners (“Artemis”), a premier American investment fund specializing in impact investing across global cannabis markets.
Also participating in this latest funding round are existing seed investor, Measure 8 Venture Partners (“Measure 8”), along with a German family office investing in medical cannabis for the first time, and award-winning, Germany-born film actor Moritz Bleibtreu. Existing Bloomwell investors committed new capital as reinvestment in support of the offering. The terms of the multi-million Euro financing are undisclosed.
As part of the transaction, Artemis co-founder and managing member William Muecke has joined the Company’s advisory board and will serve alongside Bloomwell’s current board representatives. Mr. Muecke was previously the global co-head of healthcare services in the healthcare investment banking group at Goldman Sachs and Co. With over 30 years of experience in global financial markets, Mr. Muecke is an expert in corporate finance, mergers and acquisitions, and private equity investing.
The large size of the investment and the marquee name recognition of the institutional capital now joining Bloomwell’s investor group is a noteworthy endorsement of Bloomwell’s success to date, as well as a statement of confidence in Bloomwell’s management team, who has guided the Company to its leading market position in German medical cannabis.
This latest investment provides Bloomwell with a fully-funded business model and positions the Company to continue to both increase current market share as well as prepare the business for the expected upcoming federal legalization of adult-use cannabis in Germany.
“We are pleased to be one of the very few select businesses who have been able to close funding in what has been a very difficult period in the private capital markets. Indeed, we are humbled to not only have the continued support of our existing investors but also to have been able to attract new lead capital from such a highly reputable group as Artemis, which is a statement of confidence and vision that we accept and embrace,” said Niklas Kouparanis, Co-Founder and CEO of Bloomwell Group. “At Bloomwell, our patient-first approach and our unwavering quest for quality and service have guided us from inception to the leadership position we hold today in German medical cannabis. We believe it is this unrelenting spirit of quality and success that has attracted the world’s best cannabis investors to our company, and we are pleased to have a fully funded business with significant opportunity and growth ahead of us.”
“Germany is the most important European market for medical cannabis, and the country will become the world’s largest Federally-legal domestic cannabis market when adult-use cannabis sales begin. We are excited to join Nik and the team as investors and supporters of Bloomwell’s continued growth and success, and we believe that Bloomwell is the best-positioned independent German medical cannabis business operating today. We believe the leadership that Bloomwell has shown in the German market will translate into an expanding growth story across Europe, and we enthusiastically join the Company’s board to help guide the Company on its path forward. Among all global markets, Europe is the future for patient service, adult use access, and stigma-free acceptance of cannabis, and Germany is the engine powering the train in terms of responsible regulation, durable codification, and profitable growth in legal cannabis.” said Mr. Muecke.
Alongside Artemis, a leading German family office has taken a meaningful ownership stake in Bloomwell and will bring its industrial non-cannabis network, and its operational and financial expertise to enhance and accelerate Bloomwell’s growth.
In addition, Moritz Bleibtreu is investing in the round and will also work alongside Bloomwell Group to advocate for the continued de-stigmatization of medicinal cannabis.
“Although the potential of the cannabis plant is far from being fully understood, there is now sufficient evidence to justify legalization and expanding consumer access. The cannabis plant can help many people advance their wellness goals. We should stop pigeonholing a plant on the basis of decades of antiquated prejudices,” said Mr. Bleibtreu, who is one of Germany’s most successful actors. Mr. Bleibtreu is a well-known German actor and public personality who achieved fame for his roles in classic movies such as Run Lola Run, The Experiment, Lammbock – Alles in Handarbeit, Elementarteilchen and Der Baader Meinhof Komplex. Mr. Bleibtreu received a Germany Television Award (The Deutscher Fernsehpreis) last year for his performance in the series Faking Hitler.
“We are very pleased that Moritz Bleibtreu, an accomplished actor with an international reputation, is joining our mission and offering financial support as we work to end the decades-long stigma of the cannabis plant and cannabis consumers. We can only succeed in changing public perceptions if we involve courageous personalities in the public discourse who will help to educate, promote the plant’s potential benefits, and strengthen the spirit of the cannabis community,” added Mr. Kouparanis.