Green Acre Capital Announces Successful Closing of $25 Million Fund I
TORONTO, Sept. 28, 2017 (GLOBE NEWSWIRE) — Green Acre Capital (“GAC”) is pleased to announce the final close of Green Acre Capital Fund I, having raised approximately $25 million to invest in the legal cannabis industry. It is anticipated that total GAC managed investment may far exceed this figure, based on the appetite for co-investment from fund investors. The fund is focused on investing in Canadian growth-stage ancillary cannabis companies.
The majority of the fund was raised from Canadian high net worth investors, with lead commitments from York Plains Investment Corp., W. Brett Wilson, and Aphria Inc. (TSX: APH) (OTCQB: APHQF). The GAC team is led by Managing Directors, Matt Shalhoub and Tyler Stuart, and a board of advisors that includes Shawn Dym, W. Brett Wilson, Vic Neufeld, and Lorne Gertner.
“We are pleased to be closing this fund having exceeded our initial fundraising target,” says Stuart. “In this time of unprecedented growth for the industry, we are well positioned to add to our ecosystem of cannabis investments”.
Many entrepreneurs in this industry need more than just capital, and we plan to fill that void for our investee companies,. Having our fundraising behind us will allow us to dedicate all of our time and attention to finding and supporting great companies and talented entrepreneurs.
Matt Shalhoub, Managing Director
About Green Acre Capital
Green Acre Capital is a private investment fund focused on the Canadian medical and recreational cannabis industry with consideration for international opportunities. The Fund plans to invest in multiple sectors of the cannabis value chain, and to create an ecosystem amongst portfolio investments that will help fuel growth and innovation.