GrowGeneration Raises $10 Million from New York City Private Equity Funds | CashCropToday
0 Shares 119 Views

GrowGeneration Raises $10 Million from New York City Private Equity Funds

May 10, 2018
119 Views

GrowGeneration Corp. (OTCQX: GRWG), a product distributor for one of the  largest specialty retail hydroponic and organic gardening stores in the U.S., announced this week that the company has raised $10 million from strategic investors.

Gotham Green Partner is a New York-based private equity firm that invests in the cannabis industry. The company invested a total of $7.5M where Cannabis investors Merida Capital Partners and Navy Capital also invested $1.5 million and $1.0 million.

This is not the first or last time that large private equity firms, based out of New York, are going to fund up and coming companies involved in the industrial hemp and cannabis sectors. Investing in ancillary businesses that support the function of the thriving cannabis industry is a safer bet due to cannabis still being labeled as a schedule one drug by the DEA.

Jason Adler the managing partner at Gotham Green Partner gave this statement in the press release:

“We are excited to be a significant shareholder and partner to the GrowGen team. With a robust pipeline of accretive acquisitions, GrowGen is at an inflection point and is well-positioned to benefit from the anticipated growth in the markets that it serves.  We look forward to assisting the Company in executing on strategic opportunities and accelerating its plans for future growth.”

You may be interested

Leafwire Launches Social Networking Cannabis and Hemp Platform
Tech
169 views
Tech
169 views

Leafwire Launches Social Networking Cannabis and Hemp Platform

Editor - July 20, 2018

Leafwire launched their new social platform this week which is dedicated to connect cannabis and industrial hemp investors, entrepreneurs, employees and upper management all under one network.…

Hawaii Issues First Industrial Hemp Licenses
Politics
250 views
Politics
250 views

Hawaii Issues First Industrial Hemp Licenses

Editor - July 20, 2018

The Hawaii Department of Agriculture (HDOA) has issued its first licenses to farmers to cultivate industrial hemp under the states pilot program. The government in Hawaii had…

The Green Organic Dutchman and Epican Open Retail Dispensary in Jamaica
Manufacturing
284 views
Manufacturing
284 views

The Green Organic Dutchman and Epican Open Retail Dispensary in Jamaica

Editor - July 19, 2018

The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF) and Epican Medicinals, announced this week that the companies have successfully opened their first legal cannabis retail store in the…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: