New York Cannabis Fund Altitude Investment Partners Raises $18.7 Million

Altitude Investment Management Closes $18.7M for Cannabis Investment Fund

NYC Based Venture Capital Firm to Raise $50M to Expand Cannabis Portfolio

April 10, 2018 (New York) —  Altitude Investment Management, LLC announced today that it has achieved a significant milestone with its first round of capital closing for its debut fund Altitude Investment Partners, LP. This initial closing, which raised $18.7 million in capital from over 50 investors, is the precursor to the firm raising up to its $50 million target over the next 11 months.

The Altitude fund is led by John Brecker, Jon Trauben, Michael Goldberg, and Roderick Stephan. Collectively the partners have over 100 years of Wall Street investment management experience and have managed investor capital in the alternative asset management space for the majority of their careers. Altitude already has a portfolio of 11 companies spanning the cannabis industry and will use this new capital to continue to invest across the global industry.

We are delighted to announce this initial capital raise as we continue to invest in this exciting and opportunistic industry. Over the past two years the partners of Altitude have invested in a diverse set of companies that span the breadth of the cannabis industry.

Partner Jon Trauben

We have a unique portfolio strategy that focuses on companies with strong management teams and scalable systems that meet the highest regulatory and compliance standards that will be foundational to the industry. These companies are building recognized and leading products, brands and services that have strong customer loyalty, sticky customer relationships, niche industry expertise, and tailored solutions for a highly regulated industry.

Altitude’s current portfolio consists of some of the leading firms in the North American cannabis industry including: BDS Analytics, Canndescent, Eyechronic, Flowhub, Front Range Bioscience, Green Flower Media, Privateer, The Green Organic Dutchman and Würk.

According to research published by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016. The market is forecast to grow at a CAGR of 21.1% between 2017 and 2024, while reaching a value of $63.5 billion in global sales in 2024. There is a huge existing customer base for medical and adult usage, yet decades of federal prohibition have kept dominant companies and institutional capital from owning this industry.

Partner John Brecker

This lack of institutional capital being invested in the cannabis industry creates tremendous opportunity for our investors. Additionally, the operators of successful companies are now migrating toward working within the cannabis industry creating an unparalleled opportunity for investors.

Altitude Investment Partners, LP is a US-based, global venture capital fund that invests in a range of early-stage to growth companies supporting the fast-growing legal cannabis industry. The fund is managed by Altitude Investment Management, LLC, (the “Manager”), whose members have been actively investing in the cannabis industry and have successfully invested in the alternative investment space for years. The Manager provides institutional quality investment management experience to its investors. For more information about Altitude Investment Management please contact or visit

Source: Company

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