Wednesday, June 5, 2013

Emerald Ocean Capital Launches New Venture Capital Fund, With A Twist

There's been a constant drumbeat from both local entrepreneurs and investors on the lack of venture capital sources in Southern California. So, anytime a new, Southern California venture capital investor shows up, technology entrepreneurs usually flock to their doorstep. However, that might not be the case with a new venture capital firm, Ghost Group, which launched today. The new, Newport Beach venture investor said it has created a fund, Emerald Ocean Capital, which will invest in technology--however, only for companies in the area of legal cannabis and medical marijuana. Ghost Group did not say how big of a fund it has raised, but said it has also launched the Ghost Domain Capital fund, which will specifically invest in Internet domains it says are a "category killer" in the B2B area. The new venture capital fund was founded by Justin Hartfield and Doug Francis; Francis is the co-founder and CEO of WeedMaps.com, an online site which connects medical marijuana patients with other patients, dispensaries, doctors, and delivery services.

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