Cohort Capital, a Denver based venture capital fund, is pleased to announce the successful partial exit on the reverse merger of portfolio company Ultra Sun (USUN) with Cannabis Sativa Inc. (CBDS). As the first realized return of one of its portfolio companies, this marks a very successful start for the fund. Founded in September 2012, from a group of common MBA alumni out of the University of Denver, Cohort Capital focuses on high potential opportunities mostly based on high tech start-up companies and structured financial transactions. Ultra Sun was one of the initial investments Cohort Capital placed.
In November of 2012, Cohort Capital took a debt position in Ultra Sun by providing needed funds for operations. Shortly thereafter, fund partner Jeff Holmes structured the merger between the two companies. “Recognizing the emerging opportunities in medical and legalized cannabis here in Colorado and beyond, we’re very excited to get involved with David Tobias and Cannabis Sativa Inc.” Said Chris Holmes, fund President. In January of 2014, the fund was repaid its initial investment and converted a portion of the interest proceeds into equity of Cannabis Sativa Inc.
In February and March of 2014, Cohort Capital liquidated portions of its position by selling shares of Cannabis Sativa Inc., locking in a realized gain in excess of 10x. With majority of its shares still being held, return metrics will continue to increase as future liquidation occurs.
Cohort Capital also holds positions and interest in Giving Assistant, Active Junky, and BadVine. The fund continues to source and vet new opportunities that will provide greater future earnings potential.
For more information, visit www.cohort-capital.com.
President and Managing Partner