Cresco Capital Partners, a private equity investment firm focused solely on making strategic investments in the legal cannabis market, has launched its Fund III with an initial target of $150m.
In connection with the new fund launch, the firm has officially changed its name to Entourage Effect Capital.
This is the third consecutive fund launched by the firm and when fully subscribed, will bring total assets under management to approximately $250m.
Fund III will target a diversified investment approach across the value chain including, but not limited to, science and bioscience, license aggregators, vertically integrated licensed operators and retailers as well as consumer packaged goods, biotech, ag-tech, media, technology and ancillary services.
The fund is expected to invest directly in approximately [10 ā 20] growth stage companies within target sectors over a five-year investment period and seven-year fund term.
Since inception in 2014, the firm currently manages approximately $100 million in assets under management.
The firm includes three managing partners Matt Hawkins, Andy Sturner, Dov Szapiro, two managing directors / partners Codie Sanchez and Tiffany Liff, as well as VPs and associates Matthew Bryant and Ellen Roy.
Led by Matt Hawkins, Managing Principal, Entourage Effect Capital has invested in 32 companies with a total of 11 exits. Both prior funds consist of current and exited positions in some of the most recognizable names in the cannabis market including Acreage Holdings, GTI, MJ Freeway, Ebbu, Form Factory, and more.
FinSMEs
08/10/2019