TORONTO and CALGARY, Alberta, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Green Acre Capital (“GAC”) is pleased to announce commitments of over $75 million for the initial closing of Fund II (“GACF II”). GAC will now begin making investments from Fund II and plans to stop taking in new capital within 30 days. The GACF II strategy is an extension of GAC Fund I (“GACF I”) and will continue to focus on early and growth stage, non-cultivation cannabis and cannabis ancillary opportunities.
“The response to our Fund II launch and fundraising activities has been humbling,” said GAC Managing Director, Tyler Stuart. “We are eager to start deploying this fresh capital into the most compelling ideas in the cannabis space. As the recreational markets come online in Canada this month our pace of activity continues to accelerate.”
Approximately two-thirds of the committed capital has come from investors that were also investors in Fund I, and includes groups and individuals from across North America, Europe, and Asia.
GAC Managing Director, Matt Shalhoub adds “We are excited to expand our global network of investors, which we expect to continue to be an integral part of the Green Acre ecosystem. We continue to be impressed by the quality of opportunities that Fund II is looking at and look forward to continuing to support the growth of companies in the industry.”
GACF I closed in September 2017 and has now been fully deployed into 13 cannabis companies, generating a gross IRR since inception of over 150%.
About Green Acre Capital
Green Acre Capital is a Toronto and Calgary based private investment fund focused on the global medical and recreational cannabis industry. The fund invests in many sectors of the cannabis value chain, with a preference for ancillary opportunities. The Fund’s goal is to create an ecosystem within portfolio investments that will help fuel growth and innovations in the cannabis industry. Visit: www.greenacrecapital.ca.
Contacts
| Matt Shalhoub mshalhoub@greenacrecapital.ca | Tyler Stuart tstuart@greenacrecapital.ca | |