Australian investor Barry Palte has taken a stake in US CBD company ZoneIn and joined its advisory board as chief investment advisor.
With a 35-year career in company building, investment, funds management and investment banking, Palte founded globally focused investment group EQ Capital Partners in 1999.
EQ invests in, and supports, the global growth of ‘purpose-driven’ companies which deliver measurable positive social impact.
When a family member suffered from significant sporting injuries and endured chronic pain, Palte researched the use of CBD and discovered it had a major beneficial impact.
He said: “I have deep experience with investing in more traditional biotech companies with their necessary checks and controls.
“I saw the opportunity for CBD to take its place as a very beneficial option for the many people who suffer from chronic pain and the related mental health issues, without… the serious side effects from more traditional products like opioids and antidepressants.”
Having seen how beneficial CBD treatments were for his family, Palte became a convert to the medical and non-medical benefits of CBD.
He added: “When I met the very impressive ZoneIn team and heard about the products they had originally created for elite and recreational athletes… I was sold.”
Co-founded by former NFL linebacker Lofa Tatupu, ZoneIn CBD is formulated to help with faster recovery, to replenish the body, and target mind-body movement.
CEO Amit Rikhi said: “Barry’s global network is very deep. We’re looking forward to him aligning us with key international manufacturing, distribution, retail and capital partners.
“Barry can help extend our footprint outside of the US with the goal of becoming the most globally recognised, active adult-focused CBD company in the world.”