Jason Wild, CEO of JW Asset Management LLC, is one of the most seasoned U.S. institutional investors in legal cannabis.
The former pharmacist, who oversees $1 billion in assets, recently chatted with Barron’s about his fund.
“From 1998 to 2010, the fund was up 22% annualized, net of fees,” he explained, revealing that they “grew assets from $89,000 to $25.5 million.”
Buy What You Know
Before venturing into the cannabis industry, Wild utilized the “buy what you know” approach.
His fund bought Arbor Pharmaceuticals in 2010 for $2.5 million in cash. By the next year, it “had $127 million in sales and $55million in Ebitda,” disclosed Wild.
In 2014, they sold a third …