MedMen Inks $15M in Financing for California Expansion

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, said it raised $15 million in venture financing and will announce a “series of deals” in coming weeks as it expands its operations in California.

It marks one of the largest venture capital deals in the industry to date.

“With California being a central focus for us and a critical market in the U.S., we will continue to actively pursue management deals in California and expand our portfolio of facilities in the state,” a MedMen spokeswoman said in an email. The company helps cannabis businesses by managing day-to-day operations.

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

Cap-Meridian’s website doesn’t appear to be working, but according to a page on CrunchBase the firm has made four other investments in early-stage companies since 2012. The deals range from $500,000 to nearly $2 million, for a total of nearly $5 million invested before the MedMen infusion.

California has become a prized commodity in the cannabis industry following the passage of the state’s new medical marijuana regulations. The new rules will allow out-of-state investors to own MMJ companies, while for-profit businesses will be allowed to enter the industry for the first time.