Announcements

Job offersmore »

Tweeting Growers

Top 5 - yesterday

Top 5 - last week

Top 5 - last month

Exchange ratesmore »




US: MedMen's first investment fund raises more than $60 million

MedMen has closed its first Opportunity Fund - a private equity fund aimed at strategic investments in the cannabis space, raising more than $60 million with $92 million in transactions.



The investments span seven projects across three states, making MedMen Opportunity Fund one of the most successful cannabis investment vehicles in the industry. Since its launch in June, the Fund has made highly strategic investments in key marijuana markets across North America.
 
The highlights:
  • Acquisition of Bloomfield Industries, one of only five licensed producers and distributors of medical marijuana in the state of New York. Each license permits one cultivation and manufacturing facility and four dispensaries. Bloomfield Industries has rights to one of only two permitted dispensaries in Manhattan.
  • Leading position in California, the country's biggest legal cannabis market. The Fund is an investor in various projects in Desert Hot Springs, Venice and Santa Ana.
  • Investment in a 45,000-square-foot, state-of-the-art cultivation and production facility outside Reno, Nev.
  • Investment in one of Canada's largest licensed producer and distributor of medical marijuana, MedReleaf. In a recent financial filing, MedReleaf reported it controls 19 percent of Canada's medical marijuana market and that revenue grew by 141 percent in 2016. Current legislation in Parliament would make Canada the first G7 nation to legalize recreational use.
For more information 
MedMen

Publication date: 5/8/2017

 


 

Other news in this sector:

9/19/2017 US (NV): First plants are in at Marapharm's Las Vegas facility
9/19/2017 US (MD): University of Maryland cancels MMJ training
9/18/2017 Solution on the horizon for marijuana business banking issues
9/18/2017 "26 percent of Canadians consume cannabis"
9/15/2017 US: Nanoparticle cannabinoid drones to target lung cancer
9/13/2017 US (MI): Medical marijuana shops get temporary reprieve
9/13/2017 Canada: Supreme completes first sales with Aurora Cannabis
9/13/2017 CAN (ON): Tweed Farms to expand three-fold , acquires Garden City Growers
9/13/2017 US: Texas issues first medical marijuana license
9/12/2017 Cannabis Science participates in U.S.-Africa Policy Forum
9/11/2017 US (MA): AmeriCann secures $10,000,000 equity financing commitment
9/11/2017 US: Medical marijuana plants have started to grow in Maryland
9/8/2017 Planning for cannabis odor control in the design phase
9/8/2017 Indoor sunlight now available for medical cannabis growers
9/8/2017 Canada: Ontario to announce MMJ legalization plans today
9/6/2017 Cronos announces MMJ supply agreement in Germany
9/5/2017 US (CA): Future Farm makes progress on Riverside County cultivation facility
9/5/2017 CAN (QC): MYM receives permit approval to begin construction in Laval
9/5/2017 US (CA): "80% of MMJ at conference tested positive for contaminants"
9/5/2017 Israeli company to set up 4 US cannabis factories