New York-based Merida Capital Partners, a private equity fund that has been investing in cannabis companies since 2012, announced that it’s amassed more than $50 million in assets under management.
Its investments include nine marijuana businesses, with three that touch the plant and six ancillary.
The private equity fund has put money behind:
- Kush Bottles, a California-based packaging company
- GrowGeneration, a cultivation equipment provider
- New Frontier Data, a cannabis data analytics firm
- Simplifya, a tech platform that helps MJ businesses comply with industry regulations
- Steep Hill Labs, an MJ testing lab company with locations in 10 U.S. states
- Canndescent, a Southern California cannabis grower
- Valley Agriceuticals, one of just 10 licensed medical marijuana producers in New York
- Mainstem, a Washington state-based cannabis tech company
- Emerald Scientific, a supplier of MJ equipment, data and scientific information
Kush Bottles received $6 million from Merida in February, while the fund put $1 million behind Simplifya in January.
In making its announcement Wednesday, the company said it’s not done investing in cannabis.
“Merida continues to see an acceleration of institutional interest in our core strategy,” Mitch Baruchowitz, managing partner of Merida Capital Partners, said in a news release.
“As cannabis evolves as an agricultural 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.”