COLOGNE — Fabian Thylmann has decided that pot is where it’s at.
Thylmann, the former managing partner of Manwin, the adult entertainment conglomerate that was rebranded as MindGeek in 2013 after he sold his stake in the company to its management team, has invested about $1 million in a German cannabis startup called Cannamedical, according to a report in Marijuana.com.
“Initially, Thylmann invested a six-figure sum. But by the end of 2017, his investment company, SN Invest, poured at least a million into the Cologne-based Cannamedical,” Marijuana.com said.
Thylmann told the news portal that the medical cannabis business has similar financing issues as he experienced in the past with adult entertainment.
“It is a very profitable business, but few banks and funds today are comfortable with it globally. My old network puts me in a unique position to help companies in this field move forward more than others, and I have no fear investing in businesses I believe are beneficial for mankind, as long as they are legal,” Thylmann said.
“Cannamedical is one of the very few companies with a permit to distribute in Germany,” he said. “They are in a unique position in a very strong market and are very well set up for unprecedented growth.
“Who is better positioned than a German company with German principles and accuracy?”
Cannamedical has legally been able to import cannabis into Germany for medical purposes since March. The company is currently sourcing all products from the Netherlands, but this will soon change with a Canadian-licensed producer supplying its needs by tenfold. It has 20 employees.