The best way to evaluate if a cannabis business is socially responsible is to start with management’s “mission and purpose.”
That’s according to Will Muecke, a partner at cannabis-focused private equity firm Artemis Growth Partners. Muecke discussed the topic Thursday as part of a panel event at Benzinga’s virtual Cannabis Capital Conference.
Going Through A Checklist
Social responsibility has become a top priority in the business community and the cannabis sector is no exception. It is important to understand why a cannabis entrepreneur is starting a business and if they are in it just to make money, Muecke said.
As a private equity investor, Muecke said he also looks at the corporate structure and governance, he said. It is also important to understand the policy of inclusion and who is being hired.
Also important in the evaluation process is determining who the cannabis company serves.
But at the end of the day there is no way to quantify the degree to which a company is or isn’t socially responsible, he said. Investors should “come up with your own toolkit” before entering an …