Germany: ex-Pornhub owner invests heavily in cannabis

The "king of porn," Fabian Thylmann—former owner of sites such as YouPorn, Pornhub, and Brazzers through the parent company Manwin—has set his sights on a new, booming sector in Germany: the cannabis.

In particular, it is providing more than one million euros in funding to Cannamedical. The German company was founded two months before the Bundestag legalizes cannabis for medical use, and currently has about 20 employees, with 10 additional positions open for 2018.

«The business of medical marijuana is facing funding challenges similar to those I’ve experienced in the past. It’s a highly profitable business, but few banks or investment funds are comfortable with it today. My former network has put me in a unique position to help companies in this sector move faster than others, and I’m not afraid to invest in an area I believe is beneficial to humanity, as long as it’s legal. Cannamedical is one of the few companies with a [cannabis] distribution license in Germany. They’re in a unique position in a very strong market and are well-positioned for unprecedented growth. Who’s better positioned than a German company with German principles and precision?» explains Thylmann in an exclusive interview for marijuana.com.

Cannamedical currently imports medical cannabis from the Netherlands. In 2017, it sold 300 kilograms of cannabis to German pharmacies, worth 2.2 million euros. For 2018, the company has entered into a partnership with Cronos Group, a Canadian cannabis producer capable of supplying it with 250 kilograms per month. Several producers of cannabis from Lesotho had also made a name for themselves, with product quality requirements that tipped the scales in Canada’s favor.

«Thylmann is a strong, independent partner who invests his own money, without needing approval from a fund. Back when the media was starting to report regularly on the law that was set to pass in March, potential investors were still scared off by the word »cannabis.« »We were among the three excluded categories: alcohol, drugs, and sex,” explains David Henn, CEO of Cannamedical. “That’s why we consider ourselves fortunate to have found investors before medical cannabis was legalized and more widely accepted.”.

«Ever since the potential of cannabis has gained popularity due to media coverage, many potential investors have shown interest—nine months too late,» he concluded.