Led · Seed · Apr 2023

Engin Sciences is an AI-powered recruitment software startup that streamlines job advertising and distribution to deliver high-intent applicants and accelerate hiring. Its platform enhances employer brand, intelligently distributes job listings to mainstream partners, social platforms, and community partners, and connects candidates with positions that match their skills and experience. Leading cannabis employers such as Columbia Care, Stiiizy, and Etain already use the platform. Engin reports its platform reduces hiring time by 30–50% and generates an engaged, qualified talent funnel. The company is currently focused on the cannabis sector but plans to expand into other emerging markets including sustainable agriculture, clean-tech, hospitality, omnichannel retail, psychedelic medicine, and artificial intelligence. With new capital the company plans to ramp up sales and marketing, launch additional AI-powered features, and expand offerings to better serve the cannabis sector and adjacent industries.

Participated · Series B · Apr 2022

Lucid Green’s platform—anchored by LucidSource, LucidID, and Lucid Connect—gives cannabis brands and retailers real-time, item-level visibility that streamlines label compliance, inventory intake, and consumer transparency. Its LucidID codes now appear on more than 160 million products, with 800,000 new IDs generated each day, cementing the company as a market standard across five key U.S. states. The company reports double-digit monthly revenue growth throughout 2025 and a 4.8-star rating for its LucidID consumer app in Apple’s App Store. Adoption of Lucid Connect, the firm’s direct-to-consumer module, more than doubled this year, and consumers have redeemed over 1.25 million BudPoints for 60,000 reward items. Management says these metrics are driving profitability improvements for partners, positioning the business for continued growth into 2026. Based in New York, Lucid Green focuses on supply-chain transparency, inventory efficiency, and consumer trust within the regulated cannabis sector.

Participated · Series A · Jun 2021

Trait Biosciences, based in Santa Fe, NM, develops technologies that transform water-insoluble cannabinoids into water-soluble materials. The company says its new ingredients deliver unique benefits to multiple end-use consumer products. Trait expects a 1Q 2024 launch of its first-generation water-soluble CBD. It closed a financing round of undisclosed size led by Btomorrow Ventures (the corporate venture capital arm of BAT) and Gotham Green Partners. The company intends to use the funds for development and commercialization efforts and to support partnerships with contract manufacturers and go-to-market partners. Trait Biosciences is focused on developing technologies to enable the production of CBD products, including its proprietary 2XGLY Water Soluble Cannabinoid technology. The company holds more than 90 active patent applications focused on innovative cannabinoid technology. Trait’s first-to-market product that enables marketplace CBD extract to be converted into a water-soluble cannabinoid extract was slated to launch in 2022. It is also developing an IP portfolio in biomolecular plant transformation technology designed to improve minor cannabinoid productivity in plants and strengthen overall crop yield for hemp cultivators. The company is led by CEO Peter McDonough and is based in Vancouver, BC. Trait raised C$31M in a Series A financing that included new cash and the conversion of existing company debt to accelerate R&D and commercialize its water-soluble technology. Trait Biosciences is developing a proprietary fermentation process to convert fat‑soluble cannabinoids into water‑soluble molecules that improve onset time, bioavailability, flavor and shelf life without relying on nanotechnology. The company targets beverages initially and intends to be a branded ingredient provider to existing producers. Its Producer Division is also developing ultra‑high yield “Super Producer” plants and RNAi‑based plant protection to reduce toxins without pesticides. The conversion process currently takes about 48 hours and attaches a sugar moiety, which the team says improves taste and stability. The recent financing will fund R&D, expand the scientific team, and establish a state‑of‑the‑art research facility. Management expects at least one year of runway from the raise and plans to seek further funding ahead of a public listing tentatively planned for 2019.

Led · Equity · Feb 2021

Coda Signature crafts premium cannabis-infused edibles, topicals and sensory products for medicinal and adult-use markets. Founded in 2015, the company was an early adopter of technological innovation combined with confectionery artistry and natural ingredients to produce high-end products. Its products are available in over 800 dispensaries across Colorado and California, and the company holds licenses in both states. Coda plans expansion into other emerging North American markets and will use a recent $6M funding infusion to support expansion, R&D of new technologically innovative products, and to bring new expertise into the team. The company has received multiple industry awards and recognition, including Forbes’ Best Startup Employers 2020 and several cannabis cup awards. CEO Lisa McClung, who joined the board in March 2020 and became CEO in October 2020, is credited with bringing CPG discipline and corporate best-practices to the business. Coda Signature crafts premium cannabis-infused edibles, topicals and concentrates for medicinal and adult-use markets. Founded in 2015, the company has received 17 industry awards and holds No. 1 market share in Colorado for adult-use edibles per BDS Analytics; its products are available at over 600 dispensaries in Colorado. Coda Signature is licensed in California and Colorado and is pursuing expansion into other North American markets, including California and Canada. In July the company will launch operations from a 20,000 square-foot facility in Oakland and plans to add more than 50 jobs through the end of 2019. The brand emphasizes natural ingredients, bold flavor combinations and product innovation. Proceeds from the Series A will be used to accelerate expansion into emerging North American markets and for strategic additions to the management team.

Participated · Convertible Note · Nov 2020

MedMen operates a retail‑oriented cannabis business built around branded dispensaries and prime retail locations. The company says it is refocusing on its core retail business and plans to strengthen its balance sheet, accelerate a path to profitability and expand the MedMen brand. Over the last year MedMen has pursued cash infusions, asset and stock sales, and aggressive cost cuts including layoffs of more than 40% of its staff. For fiscal 2020 (ended June 27) the company reported roughly $247 million net loss attributable to shareholders on $157 million in revenue. At that fiscal year end MedMen had roughly $536 million of debt, including loan facilities and operating and lease liabilities. Despite recent setbacks, some analysts have noted creditor willingness to continue funding as a potential lifeline for the business. MedMen, founded in 2011, is a California startup that sells marijuana through branded retail stores. It owns 11 stores across Los Angeles, New York, and Las Vegas and employs about 700 people. The company emphasizes design and service reportedly comparable to Apple stores and aims to fight stereotypes while introducing modern sales and management practices to the cannabis industry. MedMen offers managerial services to producers and other retailers and has created an investment fund to invest in companies that hold cultivation and retail licenses. The company itself does not hold cultivation and retail licenses across all 18 characteristics noted in the article; its fund-and-partnership model lets it operate in markets with limited licensing (for example, New York). Financially, MedMen had previously raised about $135M from a group of investors and has continued to attract new capital. MedMen is a Los Angeles-based management company serving the legal marijuana industry. Led by CEO Adam Bierman, the firm supports businesses entering the regulated cannabis market by handling licensing, design, and management. It guides clients from completing state applications to managing day-to-day operations of mature businesses. MedMen offers services including business plans, crop security, money management, taxes, hiring, branding, building design, and operations improvement. The company plans to use the new funding to expand its presence in California following passage of AB 243 and 266 (MMRSA) and to build a fully integrated presence. The article does not provide additional operating metrics or broader financial details. MedMen is a Culver City, CA-based cannabis management company that leverages expertise in licensing, design and management to help businesses enter the marijuana marketplace. The company focuses on maximizing brand identity and building legitimate, stable operations for clients. Founded in 2007 by Adam Bierman and Andrew Modlin, MedMen has supported clients that have been awarded 13 medical marijuana licenses in Nevada and has 12 applications pending in Illinois. In November 2014 the company secured $3.75M in financing from several backers, the largest being N Squared Management. MedMen plans to use the funds to launch operations in Nevada and Illinois and to build corporate infrastructure and regional offices in those states.