Also, see press release Early-stage venture capital firm Leafy Tunnel has launched the first medicinal cannabis and psychedelics fund to be regulated in Guernsey. Advised by international law firm Carey Olsen, the fund is established as a route two ‘qualifying private investor’ private investment fund (PIF). Leafy Tunnel Fund 1, L.P. will target investments in businesses and teams that aim to maximize the potential of alternative medicine with a focus on providing relief from pain, physical and mental disabilities while improving the quality of life for both patients and their families. Primarily focused on the European market, Leafy Tunnel has started building a portfolio of companies that it hopes will lead, legitimize and form the future of cannabis and psychedelics in the medical industry. Working alongside onshore counsel DLA Piper UK LLP and Guernsey fund administrator Imperium, the Carey Olsen team advising Leafy Tunnel on all Guernsey-related aspects of the fund’s establishment and regulatory approval was led by corporate partner Tom Carey, assisted by senior associates Alex Mauger and Matt Brehaut and associate Oliver Orton. Partner Mark Dunster and counsel Simon Florance provided additional specialized regulatory advice.

Cannabis Law Report, 02/01/2022 20:06:00

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