Bloomwell Group’s $10 Millon Seed Financing Round

FPS Fritze Wicke Seelig advised Bloomwell Group on the deal. Gleiss Lutz advised Measure 8 Ventures. Noerr advises M4Capital.

The Bloomwell Group has successfully closed a seed funding round of over $10 million dollars—the highest publicly known seed investment for a European cannabis company to date.

The lead investor is US growth capital provider Measure 8 Venture Partners, specialists in cannabis industry investments. Among other investors, business angel Dr. Reinhard Meier is investing again through his Venture Capital Investors fund.

Concurrent with the announcement, the Bloomwell Group, which includes Algea Care, Europe’s leading telemedicine company for medical cannabis in terms of patient numbers, is repositioning itself as a holding company, allowing it to build, invest or acquire cannabis companies.

The Bloomwell Group is a holding company for medical cannabis companies and potentially for companies in a recreational market that may be legal in the future. The mission is to build, acquire and invest in ESG healthcare companies along the entire value chain, with the exception of cultivation. In doing so, Bloomwell Group relies on a patient-centric D2C approach to set up a strong, revolutionising and streamlined Patient Journey to change healthcare for the better. The combination of natural medicines and digitalisation is a journey back to the roots of healthcare with 21st century tools.

Founded in 2018, Measure 8 Venture Partners was created by Boris Jordan to capitalize on the emergence of the U.S. and global cannabis industry and was named by Business Insider as the most active cannabis VC fund during 2020.

The FPS team included Philipp Weber, Partner, Lead (Picture – Corporate / VC / M&A), Janna Pisarev (Corporate / VC / M&A), Kevin Brühl LL.M. (Glasgow) (VC / Finance) and Dr. Marco Wenderoth, Associate Partner (Employment).

The following Gleiss Lutz team around Dr Martin Viciano Gofferje (partner, lead, Berlin) and Dr Reimund von der Höh (Düsseldorf) acted for Measure 8 Ventures in the transaction: Dr Christoph Meissner, Dr Viktor Gorlow (all M&A), Dr Enno Burk (counsel), Dilara Puls (both Healthcare), Dr Alexander Molle (partner), Jan Hinrichs (both IP/IT), Simon Wegmann (Data Protection), Dr Rut Steinhauser (partner), Julian Glau (both Employment, all Berlin).

The Noerr team included Holger H. Ebersberger, Julia Hecht (both Private Equity & Venture Capital, Munich).

Involved fees earner: Kevin Brühl – FPS Fritze Wicke Seelig ; Janna Pisarev – FPS Fritze Wicke Seelig ; Philipp Weber – FPS Fritze Wicke Seelig ; Marco Wenderoth – FPS Fritze Wicke Seelig ; Enno Burk – Gleiss Lutz; Julian Glau – Gleiss Lutz; Viktor Gorlow – Gleiss Lutz; Jan Hinrichs – Gleiss Lutz; Christoph Meissner – Gleiss Lutz; Alexander Molle – Gleiss Lutz; Rut Steinhauser – Gleiss Lutz; Martin Viciano Gofferje – Gleiss Lutz; Reimund von der Höh – Gleiss Lutz; Simon Wegmann – Gleiss Lutz; Holger Ebersberger – Noerr; Julia Hecht – Noerr;

Law Firms: FPS Fritze Wicke Seelig ; Gleiss Lutz; Noerr;

Clients: Bloomwell Group GmbH; M4Capital GmbH; Measure 8 Venture Partners;

Federica Tiefenthaler

Author: Federica Tiefenthaler