San Francisco Investment Banker Sees Big Opportunity in Cannabis

Shannon Soqui

Shannon Soqui is part of the team at San Francisco-based Ackrell Capital, an independent investment bank focused on middle-market and emerging growth companies.  Before joining Ackrell Capital, he spent 20 years as a technology investment banker in Silicon Valley with Donaldson, Lufkin & Jenrette, Credit Suisse, UBS and Pacific Crest Securities.  Previously, Shannon was a securities lawyer with Brobeck, Phleger & Harrison and Gunderson Dettmer in Palo Alto, and was a certified public accountant with KPMG Peat Marwick in San Jose.

In an interview with Evan Horowitz of WeedClub earlier this month at the @420 Pitch, he expressed his interest in the cannabis industry and indicated that the firm will soon be publishing research on the industry.  He expects that CBD could be larger than THC extracts.  The firm expects national legalization within five years.  He believes the market could be $40-50 billion in flower, concentrates and accessories and an additional $10 billion in software and services.  CBD, though, could exceed $100 billion per year, according to Soqui.

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