Willie Nelson’s cannabis brand Willie’s Reserve has secured an undisclosed amount of funding. Tuatara Capital was the lead investor.
NEW YORK, Sept. 21, 2015 /PRNewswire/ — Willie Nelson and Tuatara Capital, L.P. are pleased to announce their partnership to establish Willie’s Reserve, a premium cannabis lifestyle brand. Tuatara Capital will lead an investor group that is financing the development of American music legend Willie Nelson’s cannabis brand. Founded in 2014, Tuatara Capital is a specialized alternative investment manager focused on supporting high-growth companies in the legal cannabis industry.
The investor group led by Tuatara Capital shares Willie Nelson’s passion and vision for the cannabis category.
“I hear stories from people across the country about how the end of marijuana prohibition is improving their lives. Legal marijuana makes sense. Good business will prove it can work in America,” said Nelson.
Willie’s Reserve is an extension of Willie’s passion and appreciation for the many varieties and range of the plant’s qualities. Some of the best master growers in America will collaborate, along with Willie, to define quality standards so that fans can expect consistent products.
Willie’s Reserve will be grown, distributed and sold by local businesses in Colorado and Washington, and will become available in other markets when state regulations allow.
For Tuatara Capital, the Willie’s Reserve investment is representative of the type of attractive companies that are forming in this emerging industry. “Brands help consumers to navigate choices, and trusted brands offer a promise of quality and consistency. We believe in the role of these trusted brands in helping to shape the cannabis industry in the coming years and see the Willie’s Reserve brand, like its namesake, as being a vanguard in this exciting new industry.” said Al Foreman, Partner at Tuatara Capital.
Tuatara’s founders have broad and deep professional experience that spans law, investment banking, private equity, capital markets, and cannabis operations. Their move into the cannabis category comes at a time when new regulations across the country are opening opportunities for legal businesses to serve an emerging market.
“There is so much innovation happening in the cannabis space, and we are excited about the future prospects of the industry. We see incredible potential to support the industry in its growth and evolution. It’s all happening at unprecedented speed,” said Mark Zittman, Chairman of Tuatara Capital.
The capital raised in this round will accelerate the development of Willie’s Reserve for the recreational markets in Colorado and Washington, and also other states as regulations allow.
About Willie’s Reserve
Willie’s Reserve is Willie Nelson’s soon to launch cannabis brand, reflecting his longstanding experience and his commitment to regulated, natural and high quality cannabis. www.williesreserve.com
About Tuatara Capital, L.P.
Tuatara Capital, L.P. was founded in 2014 as a specialized alternative investment manager to focus on the legal cannabis industry. Tuatara Capital supports dynamic entrepreneurs and managers by providing capital, strategic advice, and access to the Tuatara network of relationships. Tuatara Capital makes investments throughout the cannabis industry supply chain from genetics to consumer consumption. www.tuataracapital.com