New York, New York – Cresco Capital Partners, a private equity investment firm focused solely on generating strategic investments in the legal cannabis market place, announced the launch of its Fund III with an initial target of $150 million, representing its biggest fund to date. This is the third consecutive fund launched by the firm and when completely subscribed, will bring total assets below management to about $250 million.
In tandem with the new fund launch the firm has officially changed its name to Entourage Impact Capital (“EEC”). The new name reflects the evolution of each the cannabis market and the firm’s investment approach. Like the market itself, Entourage Impact Capital’s venture funds started as little, regional investments and have now grown into a broad, expansive approach with untold development prospective. EEC chose this name for their brand since they are distinguished by their particularly active part in adding worth to their portfolio firms. EEC is a tribute to the cannabis term “Entourage Impact,” which implies that the compounds inside the cannabis plant function in concert to build a sum that is higher than its person components. This metaphor defines EEC’s worth proposition as a firm.
Fund III will target a diversified investment method across the worth chain which includes, but not restricted to, science and bioscience, license aggregators, vertically integrated licensed operators and retailers as nicely as customer packaged goods, biotech, ag-tech, media, technologies and ancillary solutions.
“We bring this complete method to our investing approach: we do not wait for accomplishment to come to our portfolio firms we function to orchestrate it,” mentioned Matt Hawkins, Managing Principal of Entourage Impact Capital. “Having raised $100 million more than the previous 5 years, investor appetite for our established method of capitalizing and bringing distinct firms with each other has compelled us to launch our biggest fund to date. With the accomplishment of our two preceding oversubscribed funds, our new Fund III embodies our method to investing in the burgeoning cannabis market.”
Fund III is anticipated to invest straight in about [10 – 20] development stage firms inside target sectors more than a 5-year investment period and seven-year fund term. Due to the fact inception in 2014, the firm at present manages about $100 million in assets below management. The firm contains 3 managing partners Matt Hawkins, Andy Sturner, Dov Szapiro, two managing directors / partners Codie Sanchez and Tiffany Liff, as nicely as VPs and associates Matthew Bryant and Ellen Roy. We represent a group of investing pros with practical experience from top banks such as Goldman Sachs and JP Morgan, and graduates from Georgetown and Wharton, collective practical experience of 100+ years in investing and startups, and a storied history in beginning and exiting far more than 19 firms amongst us. We are thrilled to combine these abilities for all our investors.
As investment highlights, EEC has invested in 32 firms with a total of 11 exits. Each prior funds consist of existing and exited positions in some of the most recognizable names in the cannabis market place which includes Acreage Holdings, GTI, MJ Freeway, Ebbu, Type Factory, and far more.
About Entourage Impact Capital
Entourage Impact Capital, formerly Cresco Capital Partners, is a US private equity investment firm, committed to investing in the cannabis market. Founded in 2014, the Firm has about $100 million in assets below management and is focused on deploying capital in strategic geographies and sectors inside the cannabis space.