Verdite becomes the first Guernsey regulated cannabis healthcare fund
Elysium is delighted to have successfully supported Verdite Capital Fund I LP (“Verdite”) through the regulatory process. Verdite is now the first and currently only investment fund focused on the rapidly evolving global cannabinoid healthcare market to have received regulatory approval from Guernsey’s regulator, the Guernsey Financial Services Commission (“GFSC”).
The fund will seek superior returns through a diversified portfolio in this non-correlated rapidly growing sector. It will invest in companies across the value chain of the legal cannabinoid market globally.
Verdite will leverage the existing sector knowledge and industry network of Chrystal Capital Partners LLP (“Chrystal”), as the fund’s Investment Advisor and Promoter.
The Investment Advisor considered five leading international finance centres and chose Guernsey as the jurisdiction of choice, due to its stable, secure and well-regulated investment and finance industry. Investment managers are increasingly being drawn to Guernsey because of the quality and expertise on the island across legal, tax, audit and administration.
Guernsey is white-listed by the OECD and the EU and the flexibility and ease of doing business, combined with the high standards of regulation and governance, gives investors the comfort to put their money into Guernsey funds.
The regulatory approval for this innovative fund also demonstrates that this leading international financial centre is very much open for business despite the global coronavirus pandemic. Guernsey was one of the first places in the world to have eliminated Covid-19 and the island is operating in near-normality.
The Elysium team worked closely with the GFSC to secure regulatory approval. Elysium, with its 20+ year heritage, has specialist expertise of providing administration, accounting and company secretary services to alternative funds and managers across private equity, infrastructure, property, specialist debt, special situations and sustainable finance.
Verdite is a Guernsey Registered closed-ended collective investment scheme, structured as a limited partnership. Verdite Capital Fund I GP Limited, a non-cellular company limited by shares and incorporated in Guernsey is the general partner. Verdite appointed Elysium Fund Management Limited as the fund’s Designated Administrator in Guernsey and will also work with Centaur Fund Services Limited in Dublin, which has been appointed as Sub-Administrator. Walkers (Guernsey) LLP acted as Guernsey legal counsel.
Link to FT article - https://www.ft.com/content/d590d2c2-5292-4ff8-9a24-cf6900989a7e
Chrystal Capital Partners LP
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