L.A. cannabis consultancy launches $100M investment fund

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MedMen, a cannabis management consultancy in Los Angeles, announced it has launched a $100 million private equity fund to invest in companies that are in markets with high barriers to entry and a limited number of licenses.

The new MedMen Opportunity Fund also will own part of MedMen’s management company, which will serve as the fund’s operating partner, the firm announced in a press release.

MedMen founder and CEO Adam Bierman told Business Insider he expects investors initially will include wealthy individuals and family offices. Wicklow Capital, a Chicago investment firm, is an anchor investor.

MedMen was founded in 2009 and has worked with more than 100 cannabis-related businesses.

In March, MedMen secured its $15 million funding package through an investment from venture capital firm Cap-Meridian Ventures, which is based in New York City.