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Point Capital forms new subsidiary to invest in cannabis related companies

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Englewood-based Point Capital Inc., a business development company, announced Wednesday that it has launched a new subsidiary, Hemp Funding Inc., to invest in companies that are positioned for growth in the legal cannabis industry.

"We see significant growth for firms that support and operate in the cannabis industry," Richard Brank, CEO of Point Capital Inc. said in a prepared statement. "The legal environment is changing and we are excited about the new investment opportunities."

According to the announcement, Hemp Funding will invest debt and equity deals to provide the company’s investors with a high return at “acceptable” rates of risk.  The subsidiary will also focus on identifying strong management teams and securing positions to attract growth opportunities in the emerging industry.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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