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PE Firm Gotham Green Partners, Others Provide $10MM to Cannabis Equipment Retailer

May 10, 2018, 07:18 AM
Filed Under: Industry News

GrowGeneration Corp., one of the largest specialty retail hydroponic and organic gardening stores, announced that it has received $10 million from strategic investors, including a $7.5 million investment from Gotham Green Partners (GGP). GGP is a New York-based private equity firm focused on deploying capital into the emerging global cannabis industry. Cannabis investors Merida Capital Partners and Navy Capital also invested $1.5 million and $1.0 million, respectively.

Darren Lampert, Co-Founder and Chief Executive Officer of GrowGen, said “With this additional capital, the Company now has over $17 million of cash on the balance sheet to execute on multiple acquisitions, with several planned to close in the 2nd and 3rd quarters of 2018. In addition to providing growth capital, GGP’s position as one of the premiere private equity firms focused exclusively on cannabis will enable GrowGen to leverage GGP’s network to source additional business opportunities and revenue streams. We are also pleased that our existing institutional investors, Merida Capital Partners and Navy Capital, are reinforcing their confidence in the company with additional capital commitments.”

Gotham Green Partners is a New York-based private equity firm focused on deploying capital into cannabis and cannabis-related enterprises on a global scale. The firm manages a diversified portfolio of investments and is actively investing across the cannabis value chain.

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