Merida Capital Partners, a Leading Cannabis Industry Private Equity Firm Crosses $50 Million in Assets Under Management And O...
May 16 2018 - 11:15AM
Business Wire
Merida Capital Partners (Merida), a private equity fund
targeting fundamental growth drivers underpinning the rapid
development of the cannabis industry, announced it has crossed
$50MM in assets under management (AUM) and closed transactions in
nine companies in its second Fund. With the full deployment of
Merida’s first tranche of Fund II and the opening of the firm’s
second investment tranche, Merida Fund II will continue its focus
on high-conviction investments in leading companies that have
crossed the ‘fragmentation gap’ yet need strategic capital to
profoundly accelerate their respective growth curves. Merida will
also focus on businesses implementing capex-lite models in the
traditionally capital-intensive verticals of cultivation,
dispensing, and life sciences.
“Merida continues to see an acceleration of institutional
interest in our core strategy,” said Mitch Baruchowitz, Managing
Partner of Merida Capital Partners. “As cannabis evolves as an
agricultural product, a natural plant-based medicine, a constituent
in medical-grade formulations, and an adult-use consumer product,
Merida will capitalize on its data, informational edge, and deep
relationships in the cannabis space to make high-impact investments
that deliver value to investors.”
“People always talk about taking the ‘right money’ or ‘smart
money,’ and Merida has proven to be the epitome of a true value-add
investor in the cannabis space,” said CEO of Kush Bottles Nick
Kovacevich. “From the first day we accepted their funds they have
been involved in directly impacting our strategy and growth at Kush
Bottles.”
“Merida has supported us in every way,” Marion Mariathiasan of
Simplifya. “The firm has given us the resources we needed to
broaden our footprint in providing cultivation and dispensary
compliance, which ultimately leads to a more stable cannabis
industry ecosystem.”
To date, Merida has closed lead investments in: Kush
Bottles (OTCMKTS: KSHB), a leading supplier of cannabis
packaging and production logistics; GrowGeneration, an
industry leader in commercial equipment sales and large-scale grow
support with hydroponic supply locations in CA, CO, MI, RI, NV and
WA; New Frontier Data, an independent, technology-driven
analytics company specializing in vetted data, actionable business
intelligence and risk management solutions for investors and
participants in the cannabis industry; Simplifya, a
technology company helping businesses of all sizes track cannabis
compliance through industry-leading self-audit and reporting tools;
Steep Hill Labs, an analytical testing company for licensed
cultivators, producers, and manufacturers of cannabis;
Canndescent, a California-based cultivator of ultra-premium
cannabis; Valley Agriceuticals, one of only 10 New
York-state licensed cannabis cultivators and manufacturer of
medical-grade medicinal cannabis treatments and herbal medicines;
Mainstem, a business-to-business (B2B) solution that
consolidates cultivators, manufacturers, retailers and dispensaries
into one comprehensive marketplace, connecting buyers directly to
sellers via a MainStem Affiliate Partners program; and Emerald
Scientific, a B2B leader in cannabis science supplies,
equipment, and information.
“Mainstem is extremely excited to have Merida as a lead
investor,” said Mainstem CEO Alen Nguyen. "Merida’s portfolio
companies, are the perfect complement to our growing selection of
diverse marketplace integrations. We believe this partnership will
only continue to drive significant value to Mainstem and Merida
investors for years to come.”
“Merida’s partnership and support of our vision over the past
two years has been amazing,” said Giadha DeCarcer, CEO of New
Frontier Data. “They have worked tirelessly to support our efforts
to bring actionable data and services that lead to a more efficient
cannabis industry, and we look forward to continuing that work with
their team.”
About Merida Capital Partners
Merida is led by a management team with a proven track record
and nearly 100 years of combined experience making direct
investments and helping to successfully drive value in operating
companies. With decades of combined cannabis industry experience
and success in founding cultivation operations in some of the most
restricted states in the U.S. Merida’s motto is Responsible
Investing in the Emerging Cannabis Industry.
For more information, please visit
https://www.meridacap.com/.
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Merida Capital PartnersEllen
Mellody570-209-2947ellen@powerplantstrategies.com