FastForward Innovations Ltd (LON:FFWD), a backer of emerging industries, has paid €3mln to take an 8.85% stake in Eurox Group, a German medical cannabis business.
The investment will provide FastForward with exposure to Europe’s largest medical cannabis market, and to a firm growing beyond those borders into Portugal and UK.
Alfredo Pascual, vice-president of investment analysis, will join the Eurox supervisory board.
Ed McDermott, chief executive of FastForward, said: “This investment is the result of many months of work, and is fully aligned with our comprehensive investment strategy in the European wellness and medical cannabis space, that includes having both liquid and non-liquid assets in our portfolio.
“This is a meaningful private equity deal and it represents an important addition to FastForward’s portfolio of investments in Europe’s growing cannabis-sector.”
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