Los Angeles, April 18, 2016 — MedMen, the preeminent management company for the legal marijuana industry, has closed a deal with global venture capital firm Cap-Meridian Ventures LTD (CMV). CMV has invested approximately $15mm into MedMen.
MedMen continues to rapidly expand its footprint in California on the heels of AB 243 and 266 (MMRSA) with a fully integrated presence.
"We are excited with the progress we have made deploying our platform into new markets over the last few years. That being said, California is our backyard and the most important cannabis market in the world. This infusion is one of the first steps in a series of deals we will be announcing in the coming weeks that we believe provides us a tremendous advantage as we look to firmly cement ourselves as the leader of management services in the state," said MedMen CEO Adam Bierman.
In a joint statement issued by MedMen and CMV, both groups were hopeful about the future of marijuana investment: "Traditionally, it has been hard to raise seven figure sums in this industry, let alone eight figures. We are hopeful that the perception of this industry is shifting, allowing more capital and resources to be deployed into the space. Both sides are excited for a fruitful and long term partnership, building an institutional-quality company that will shape the future of the marijuana industry."
MedMen is the premier management firm leading the marijuana industry. Since 2007, MedMen has helped more than 100 businesses navigate the complexities of entering and succeeding in the legal marijuana market. MedMen brings together expertise in three critical areas—licensing, design, and management. MedMen guides businesses from effectively completing state applications to managing the day-to-day operations of a mature business. MedMen creates business plans, crop security, money management, taxes, hiring, branding, building design, and operations improvement. As a leader in the industry MedMen drives corporate social responsibility in the marijuana industry with their support of CannaMoms and the Marijuana Policy Project (MPP). For more information about MedMen, visit medmen.com.
Cap-Meridian Ventures LTD is a private investment vehicle with a broad mandate to invest in numerous asset classes globally. CMV is industry, stage, and geography agnostic but specifically seeks out investments in innovation with a disciplined approach to find disruptive technologies and superior operations teams with which to partner. Cap-Meridian has actively invested in various-stage companies across verticals in North America, Europe, Africa, India and Brazil.