[PRESS RELEASE] BOSTON, MA – JAN. 11 - Sensible Alternative Investments (SAI), a venture capital firm focused on institutional investment opportunities in the cannabis industry, has named former NORML Executive Director Allen St. Pierre as a partner. The cannabis industry is expected to be worth $50 billion by 2026, and St. Pierre’s appointment is further testament that the focus of the marijuana movement has broadened beyond public advocacy to include maximizing responsible cannabis commerce.
SAI is a “leafless” fund, founded by Wall Street veterans and fellow partners Martin Joyce, formerly of Credit Suisse and Mark Slater, a well-known growth company investment banker and investor. The fund focuses on four key areas of the cannabis industry: compliance software and services, real estate, technology, and media. These areas offer the same potential for high returns as other cannabis sectors, but with lower associated risk.
SAI’s entry into the cannabis market was an investment in MERRY JANE, the lifestyle-focused media platform launched in 2015 by Snoop Dogg and Ted Chung. MERRY JANE has established itself as the fastest growing media brand in the space, producing a variety of online and broadcast programming and major live events with partners like VH1, Live Nation and AEG. Fellow MERRY JANE investors include Slow Ventures, Three Six Zero Media and Casa Verde Capital.
St. Pierre is one of the most prominent advocates in the push for marijuana policy reform. He comes to SAI after 25 years leading the National Organization for the Reform of Marijuana Laws (NORML), the largest and most visible anti-prohibition establishment in the nation.
“The question of legalization is no longer ‘if’ but ‘when’,” said St. Pierre. “The next frontier will be establishing the necessary infrastructure for the marijuana industry to flourish - and SAI is bringing the intellectual and financial capital to make that happen.”
“The long-term potential of this industry is almost impossible to overstate,” said Marty Joyce, Managing General Partner of SAI. “Allen’s unparalleled experience in this field will help SAI shape the capital structure of the cannabis industry.”
Sensible Alternative Investments was founded in 2015 and is exclusively focused on investing in the infrastructure around the cannabis industry.