$30 Million in Capital will Provide 50 Diverse Entrepreneurs with Up to Ninety-Three Percent of the Capital Needed to Open a Curio Franchise in any one in every of eight states.
December 01, 2020 09:00 AM Eastern Standard Time
TIMONIUM, Md.–Curio Wellness in the present day introduced a brand new funding program that may present begin-up capital for minority enterprise homeowners to open their very own Curio Wellness franchise location. Created for ladies, minorities and disabled veterans, Curio Wellness’s funding fund (the Fund) will permit the medical hashish and wellness firm to additional its objective of serving sufferers with protected, efficient and dependable hashish-primarily based drugs in a number of states by way of its distinctive Wellness Center retail enterprise idea. A legally separate however affiliated entity from Curio Wellness, the Fund will join numerous traders with up to 50 aspiring girls, minority and disabled veteran entrepreneurs, offering $30 million in capital funding.
“In looking at the systemic barriers that women, minorities and disabled veterans face in accessing capital, we decided to develop a solution that directly addresses this massive economic disparity”
Banks and different conventional financing sources typically don’t present fairness, capital or loans for hashish begin-ups. While this hurts all potential hashish enterprise homeowners, it disproportionately impacts girls, minorities and disabled veterans. Through the help of dedicated and numerous traders, the Fund will get rid of essentially the most important barrier stopping numerous participation on this burgeoning, quickly rising trade: a scarcity of capital in live performance with a confirmed enterprise mannequin and model.
The Fund will spend money on up to 50 girls, minority and disabled veteran entrepreneurs in search of to open a Curio Wellness franchise location in states with thriving medical hashish packages. The $30 million Private Equity Fund will increase variety and allow financial empowerment by offering up to ninety-three p.c of the beginning-up capital wanted to launch a branded dispensary. Eligible entrepreneurs, by way of partnership with the Fund, can be enabled to launch a franchise as the bulk proprietor from day one and take pleasure in a transparent pathway to full possession as a franchisee.
“The Fund will expand diversity and enable economic empowerment for entrepreneurs who otherwise would be locked out of the rapidly growing field,” mentioned Jerel Registre, Director of Business Development at Curio Wellness and Managing Director of the Fund. “Our diverse set of entrepreneurs will repay the startup loans with their portion of the dispensary earnings, resulting in 100% ownership as a franchisee over time.”
The utility course of to turn into a Curio franchisee is predicted to open in early 2021 as Curio is authorized to set up franchises. The Fund will quickly announce its first closing and is anticipating to have a closing closing earlier than 12 months finish.
About Curio Wellness
Founded in 2014 in Baltimore, Maryland, Curio Wellness is a cGMP licensed, vertically built-in medical hashish firm and trusted healthcare associate. Recognized because the main wellness model in hashish by BDS Analytics, Curio is dedicated to serving sufferers with focused, efficient and dependable hashish-primarily based drugs. In 2018, Curio’s flower and topical balm have been named Best Flower and Topical in Maryland by Leafly. For extra data go to curiowellness.com.
This press launch has been ready solely for data functions. It will not be a proposal to promote or a solicitation of a proposal to purchase securities. The securities described on this Investment Opportunity Summary haven’t been registered below any federal or state securities legal guidelines or examined or handed upon by the Securities and Exchange Commission or any state regulatory authority. There are varied dangers related to this and related investments. Anyone on this funding alternative ought to seek the advice of along with his, her or its personal unbiased monetary, tax, authorized, and different advisors earlier than committing to an funding. No such recommendation is being supplied herein.
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