LOS ANGELES, Nov. 08, 2022 (GLOBE NEWSWIRE) -- An investment made two years ago by Madison Ventures+ (MV+), an innovative private/venture equity boutique combining capital investment with hands-on collaboration, into R&D/engineering shop Spectrum King LED (SKLED) is now helping to drive the modernization of cannabis cultivation facilities across the United States.
“Since we became controlling shareholders of Spectrum King LED, the company has embarked upon an incredible 24-month period of innovation, first with the launch of the Phoenix line and most recently with the announcement of the Clone King, its first light designed specifically for clones,” said Bryan Gordon, the Chairman and Managing Director of Madison Ventures+ and the Chairman of SKLED. “Currently, the team is working toward the launch of a new line of products that will render HPS lights entirely obsolete, both from a performance and ease-of-use perspective.”
As the cannabis industry expands into new markets amid increasing competition, cultivators are rapidly recognizing the need to upgrade facilities to meet growing consumer demand while minimizing costs. Topping the list of innovations being considered is the installation of LED lighting, which is quickly becoming the industry standard for all stages of growth largely due to innovations originally made possible by Spectrum King LED, the first lighting company to develop and patent full-spectrum LED grow lighting for the cannabis industry.
“We are incredibly grateful for the reception we have received from the cannabis cultivation community and are thrilled that companies are always moving forward to advance the industry,” said Rodger Olivares, Chief Operating Officer at Spectrum King LED. “In addition, we are grateful for the partnership with Madison Ventures+, which has helped us move our business to the next level. Working with MV+ has transformed Spectrum King LED from a well-regarded ‘inventor-in-a-garage’ company to a finely-tuned machine. We have been particularly focused on building a durable advantage in design, engineering and supply chain optimization, which has positioned us for continued impressive growth.”
Designed from the ground up to set the standard for the industry, Spectrum King LED products are intended to provide best-in-class performance with industry-leading power, efficiency, reliability, heat management and weight-per-fixture, all at prices that keep LED lighting within reach of small and large grow operations alike. MV+ purchased a controlling share of Spectrum King LED in November 2020. Since then, MV+ has focused on helping SKLED streamline operations and strategically position the company to focus on the type of innovation that initially made them a market leader in LED horticultural lighting.
About Madison Ventures +
Madison Ventures+ was founded in 1996 in New York City, on the philosophy that great ideas need great vision, originality, leadership, and execution to succeed. Over more than 26 years , MV+ has established an exceptional track record of successfully building and revitalizing niche businesses and assets through capital investment, thought leadership, active collaboration, and “elbow grease.” MV+ was a pioneer in the private/venture equity industry in its adoption of a fundless investment model, utilizing bespoke direct investments through SPVs as opposed to funds. Madison Ventures + has repeatedly identified off-market, high risk-adjusted return investment opportunities in a wide range of overlooked sectors in real estate, specialty finance, healthcare innovation and wellness, and other industries. Since its inception, MV+ has averaged an annualized return on investment of more than 35%, with a sub-5% loss ratio, on approximately $1.9 billion of invested equity capital. Madison Ventures + is your trusted and innovative boutique private investment partner with a personal touch.
Madison Ventures + has offices in West Palm Beach and Denver.
For more information, visit Madison Ventures+ online, email the team, or continue the conversation on LinkedIn.
About Spectrum King LED
Founded in 2014, Spectrum King LED is at the forefront of horticultural lighting innovation. Designed by cultivators and engineers, the company’s cannabis grow light technology was created to solve long standing facility lighting and sustainability challenges. Spectrum King LED designed, patented and manufactured the first full-spectrum LED grow light, which was purpose built to optimize energy efficiency while providing the perfect spectrum of light to maximize plant yields. Today, Spectrum King LED lighting systems can be found in a wide variety of indoor grows and greenhouse applications. For more information, visit spectrumkingled.com or continue the conversation on Facebook or Instagram.
Contact: Jim Dissett
The 9th Block
303-532-7392
jim@the9thblock.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc8ece56-0b77-4b22-a47e-4599e5b68104
