Unbeknownst to many, in the dimly-lit ballroom of Berlin’s Hotel Adlon Kempinski a silent revolution is taking place. Dozens lean forward as the founders of companies from Zurich to Barcelona and Lisbon pitch their ideas in front of a crowd of cannabis investors, including CEOs and international investors. Talman House is hosting an event where European cannabis capital meets its match.
The cannabis market in Europe is now entering its investing era after years of inconsistent reform. While North America struggles with political fatigue and an oversupply of cannabis, European operators draw global attention for their pharmaceutical precision and export potential, as well as growing regulatory stability.
All over the world, from Albania to Spain, and all points in between. governments have expanded medical cannabis access as well as home-grow rights. The new CDU conservative government in Germany is cautious about cannabis but there are indications that they will still push for adult use legalization. Germany allows public possession of 25 grams or less. In Western and Eastern Europe, the medical supply chain is growing through pilot projects and controlled licensing.
Europe is a continent of opportunity, but also one that’s characterized by red tape. Most deals prefer structured or convertible instruments to pure equity. Institutional interest continues to grow despite the caution. Germany’s Demecan, for example, recently hit a €100 million valuation backed partly by US investors. High Tide, a Canadian company, purchased 51 percent of cannabis-pharmaceutical operator Remexian AG in September last year with the option to purchase the remaining 49 percent. The cannabis industry in Europe is growing and investors are paying close attention.
International trade is the best long-term strategy, as most domestic markets are still very small. The companies are positioning themselves in the region to provide EU GMP certified cannabis- and cannabinoidbased pharmaceuticals. Investors must insist on transparent governance, robust due diligence and transparency as the law evolves. The recent JuicyFields scandal has left some investors wary.
The Talman Group, a member-based, credible network that connects global investors with cannabis and cannabis-adjacent firms, stands out among the new European generation of investment platforms. The Talman Group’s business model combines exclusive events at prestigious locations with deal sourcing, introductions and sophisticated investors looking for compliant investment opportunities.
Talman will host more than 140 attendees at Adlon Kempinski Berlin in April 2025. A handful of carefully selected companies presented to investors, in the style of Shark Tank. Talman, as the investment arm for Europe’s biggest B2B conference & expo International Cannabis Business Conference(ICBC), lends legitimacy to a young industry that is still struggling to overcome its growing pains.
Talman acts as a figurative guide, helping the European cannabis industry mature. This role is not limited to matchmaking. It provides due diligence protection by screening pitches, tracking market information and connecting entrepreneurs to financial, legal and strategic advisors. Talman’s curate network creates conditions that promote credible and sustainable growth in the industry, bringing much needed capital to operators who are bridging an investment desert.
These undercapitalized European market opportunities are real. Early entrants are able to enjoy the status of “first movers” and, by utilizing their head start effectively, they can turn that advantage into market dominance and impress investors. Also, success on one side of the EU can lead to opportunities in other parts. Operators who are compliant and scaled up could benefit from the evolution of policy in Germany, The Netherlands, or the United Kingdom.
Despite this, the uncertainty caused by changing regulations persists. The Netherlands and Switzerland have repeatedly delayed pilot programs. The shallow public markets restrict exits. And scandals, bankruptcies, and other events remind investors of the dangers associated with oversight.
The entry of large conglomerates like British American Tobacco or Tilray into the cannabis industry raises the bar also for smaller companies. Investors know how exuberance in the market can overshadow fundamentals. However, greed is an effective blinder. It will be important to maintain a disciplined approach in valuing assets.
Europe’s story of cannabis unfolds in phases. The EU is attempting to harmonize its policies, and standard licensing procedures are being discussed. Consolidation of multi-country partnerships and acquisitions is also underway. In 2026, expect consolidation to accelerate as North American companies begin looking at Europe’s opportunities. Pension and health funds will make conservative allocations as the cycle matures. Typically, this triggers the development of financial innovations (e.g. This is what typically triggers financial innovation (e.g. As standards of compliance mature, the de-risking process through transparency is becoming more common.
Europe’s marijuana investment story doesn’t involve chasing yet another green rush. Building the infrastructure to make the green rush possible is the key. Investors can now see Europe as a single market, not 27 separate markets. A reward as long-lasting as reform may await those who are willing to negotiate complexity.
This story was originally published in issue 52 of the print edition of Cannabis Now.