First Wednesdays

The cannabis ecosystem

First Wednesdays specialises in bringing clarity to the most complex issues shaping the future of the cannabis sector.


We do this by building first-of-a-kind reports backed by interviews, new data and public polling. We focus stakeholders on key market catalysts and create momentum around these important issues.

We launch these reports through our publishing arm, First Wednesdays. First Wednesdays was first launched in 2018 as an investor and entrepreneur network for the European cannabis sector. We have partnered with mainstream institutions and operators including the Danish Ministry of Foreign Affairs, Seedrs, Crunchbase, DLA Piper and Curaleaf.

Download recent reports


Recreational Europe
(April 2022)

Recreational Europe explores the theory that the trajectory of Europe compares to the US in 2012 when Washington and Colorado legalised – and the early signs of the ‘domino effect’.

The report explores the extent of legalisation across Europe to date, lessons from how legal markets unfolded in North America, and where reform might happen next.

Including learnings from regulators, legacy growers, small brands, corporate operators, activists and public health experts, we hope this report provides a realistic picture of the current state of recreational cannabis in Europe, and the tools to think about what the future may look like.

European Investment Ecosystem
(July 2021)

The European Cannabis Investment Ecosystem (ECIE) examines the scope and scale of major, EU-wide investments by venture capitalists and retail investors, and documents major corporates and institutional investors that are beginning to dip their toes into the sector – reversing the flow of capital across the Atlantic.

The report was produced by Hanway Associates, in partnership with global law firm DLA Piper, Swedish cannabis fund Enexis, and London-based investment bank Hannam & Partners, with brand new data provided by investment data firm Crunchbase and UK crowdfunding platform Seedrs.

European Medical Ecosystem
(June 2020)

The European Medical Ecosystem report is produced in collaboration with Invest in Denmark, part of the Danish Ministry of Foreign Affairs.

The report highlights key players and emerging trends in Europe's unique medical cannabis ecosystem, with insight into how the market has formed and how it looks set to evolve. Insights from Invest in Denmark form part of a deep dive into the country's exciting commercial model.

First Wednesdays started in London in 2018 as a gathering of 15 people in a bar in Soho, London. It is now a network of 4500+ members across Europe. You can join today.