By Lisa M. Krieger | [email protected] | Bay Area News Group PUBLISHED: February 12, 2019 at 12:29 pm | UPDATED: February 12, 2019 at 12:52 pm Stymied by limited access to investors, the Bay Area’s ambitious cannabis companies are turning to our weed-friendly northern neighbor for help – joining forces with Canadian partners to build and expand their brands here at home. This week two major businesses – Oakland’s Harborside and San Francisco’s Apothecarium – announced deals with Canadian investors whose government considers cannabis as legit as Tim Hortons coffee. This represents an international tilt in the Golden State’s cannabis landscape that until recently operated in the shadows — and now needs outside funds to strengthen its financial footing. “Right now, U.S. companies looking to access the public markets to accelerate their growth only have one option: the Canadian Securities Exchange,” said equity … [Read more...] about O Cannabis! Canucks invest in California’s weed
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Concierge Apartments, the giant complex in Richfield that underwent a controversial but financially successful renovation, has been sold to JRK Property Holdings, a Los Angeles-based real estate investment firm. Terms weren’t disclosed. The sale of the complex was announced Thursday by Soderberg Apartment Specialists, a property management firm in Brooklyn Center that had a minority stake in Concierge. It will continue to manage the complex, which is one of the largest in the Twin Cities. The current owner, MLG Capital of Brookfield, Wis., and other investors in 2015 paid for an extensive renovation of the 698-unit complex that led to the displacement of hundreds of low-income residents. Apartments units were given luxury-style upgrades and average monthly rent jumped from $750 to $1,200. Former residents sued for violations of the Fair Housing Act in the handling of the remodeling and the complex became a high-profile example of the erosion of affordable housing in the region. … [Read more...] about Concierge Apartments in Richfield, site of controversial renovation, sold to California firm
Kai-Fu Lee, a prominent Chinese venture capitalist and former president of Google China, said his investment firm is considering a scale back in the United States if relations between the two countries deteriorate further. Lee, the chairman and chief executive officer of Sinovation Ventures, said his firm would likely try to lure talent from the United States to China instead of investing in American businesses. Lee said his next steps will hinge on a planned meeting between Chinese President Xi Jinping and President Donald Trump on Nov. 30 at the Group of 20 nations summit in Buenos Aires. Lee didn't specify what would need to happen to forestall his retreat. "Our U.S. strategy is pending on the Argentina meeting, to see if there is a U.S. strategy," Lee said at the CEC Capital Summit, an annual event in California hosted by a Beijing investment bank. "We don't have to invest in the U.S." Founded in 2009, Sinovation Ventures was one of the first Chinese VC firms with a presence in the … [Read more...] about China VC eyeing cut to investment in U.S.
By Kenneth Chang Published 3:42 pm PST, Friday, November 16, 2018 A photo provided by Rocket Labs of an Electron Still Testing rocket with Shaun D’Mello, Rocket Labs’ vice president of launch. A photo provided by Rocket Labs of an Electron Still Testing rocket with Shaun D’Mello, Rocket Labs’ vice president of launch. Photo: Rocket Lab Photo: Rocket Lab Image 1 of / 1 Caption Close Image 1 of 1 A photo provided by Rocket Labs of an Electron Still Testing rocket with Shaun D’Mello, Rocket Labs’ vice president of launch. A photo provided by Rocket Labs of an Electron Still Testing rocket with Shaun D’Mello, Rocket Labs’ vice president of launch. Photo: Rocket Lab … [Read more...] about Space launch firms start small today to go big tomorrow
By David French(Reuters) - Warburg Pincus LLC is seeking to raise $2.5 billion (2 billion pounds) for its second energy-focused private equity fund, four years after its first $4 billion such fund, people familiar with the matter said on Friday.gi Private equity firms typically aspire to raise successor funds that are larger than their previous fund. Warburg Pincus' smaller target illustrates how suppressed oil prices have affected investment firms' strategies in the sector in recent years.Oil prices declined from a mid-2014 peak above $100 a barrel to around $26 a barrel in early 2016. This caused Warburg Pincus' first energy fund to deploy capital more slowly, meaning it is still holding on to assets and has yet to return cash to investors.However, oil prices are now hovering around $70, emboldening private equity firms to raise new funds. These include Apollo Global Management LLC <APO.N>, Blackstone Group LP <BX.N> and First Reserve Management LP. As with its maiden … [Read more...] about Warburg Pincus seeks $2.5 billion fund for new energy investments