Who we are
• Altmore Capital is a specialty lender in the U.S. cannabis industry offering senior-secured term loans
• Founded in 2018 and pioneered U.S. cannabis debt
• Headquartered in Washington, D.C. with 7 investment professionals
Successful track record
• Started deal-by-deal in 2018, then in 2021 raised & invested a $110M closed-end fund that was invested across a dozen debt investments with approximately 16% average annual interest
• Since 2018, have made two dozen investments, led > $270M in total financings, invested > $180M in U.S. cannabis debt
Altmore Debt Fund II, LP
• Altmore’s second closed-end fund: target $200M
• 4-year term with two successive 1-year extensions
• Initial close June 1, 2022; 12-month fundraise
• Over $650MM of actionable pipeline
• $100MM of term-sheet executed investments ready to close – target 12 to 18 months to full investment
Investment attributes
• Cannabis industry has proven performance during economic downturn
• Top of capital stack secured investments with floating interest rates
• Target unlevered net annual return of 11-12%; leveraged annual return of 14-15%