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

Women, minority execs show few gains in U.S. cannabis industry, according to the latest data from the MJBiz Diversity, Inclusion and Equity Report. Get your copy here.

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.