Participated · Series A · Jul 2021

CityRow operates a connected fitness business built around its two rowing machines (the Go Classic and Go Max) and a companion mobile app that offers on-rower and off-rower classes. The company began as an in-person rowing studio in 2014 and launched its digital platform in 2018, moving early into the at-home connected market. CityRow sells hardware (Go Classic at $1,295 and Go Max at $2,195) and platform subscriptions, and it also operates a mix of corporate and franchised studios. The company reported 375% revenue growth last year driven largely by rowing machine sales and subscriptions. CityRow currently operates 11 locations (two corporate-owned and nine franchises), has sold 64 franchises to date, and plans to launch 12 more in the next year. Management has grown headcount to 14 full-time corporate employees, and says it is on track to double that in the next year as it expands live offerings.

Participated · Equity · Mar 2021

Wesana Health focuses on developing psychedelic-assisted and naturally sourced treatments, including psilocybin-based medicine, to address neurological and psychological harms from traumatic brain injury. The company emphasizes evidence-based formulations and protocols developed through clinical research and academic partnerships. Proceeds from its recent financing will primarily fund preclinical and clinical development of its therapies and enable expansion of its senior leadership team. Wesana positioned the financing ahead of a planned go-public transaction via a reverse takeover. The company highlights patient empowerment and advancing alternative treatments for TBI as core mission priorities. No operating metrics (revenue or user figures) were disclosed in the announcement. Wesana Health is an emerging life sciences company committed to patient empowerment and the advancement of psilocybin-based medicine to improve health and wellness. The company champions development and delivery of psychedelic and naturally-sourced therapies to treat traumatic brain injury (TBI). Through extensive clinical research and academic partnerships, Wesana is developing evidence-based formulations and protocols to help patients overcome neurological, psychological and mental health ailments caused by trauma. The company announced the close of a $4 million convertible note financing round led by The Conscious Fund and Ambria Capital. Wesana positions itself around evidence-based approaches and academic collaborations as it advances its therapeutic programs. The financing reflects a capital event reported by the company to support its ongoing development activities.

Led · Equity · Feb 2019

Blühen Botanicals is a vertically integrated hemp CBD company headquartered in Knoxville, Tennessee, that processes hemp biomass and manufactures full‑spectrum products such as tinctures, capsules, creams, and pet oils. The company operates a pharmaceutical‑grade R&D facility and works with farming and distribution partners, employing a 30‑person team of entomologists, plant pathologists, agronomists, chemists, and engineers. Blühen provides farming advisors to growers to meet its premium organic standards and is expanding its farming network and agreements to purchase farmland in multiple states. The company plans to scale extraction and high‑throughput capabilities, implement international regulatory standards, and open wellness‑focused retail locations nationwide, starting with a 4,086 sq. ft. flagship store in Knoxville and a planned Fort Lauderdale location. As part of a strategic partnership, Blühen will be the exclusive supplier of bulk extracts to HeavenlyRx. The company received a $30.6 million investment from SOL Global, which the company says gives it the capital and organizational platform to accelerate U.S. and global expansion; the article cites Brightfield Group forecasting a $22 billion CBD market by 2022.

Led · Series B · Oct 2018

Verano Holdings is a Delaware-organized, privately owned, vertically integrated operator of licensed cannabis cultivation, manufacturing and retail facilities. It develops and distributes branded cannabis products (concentrates, edibles, extracts, flower and topicals) under brands including GoldLeaf, Menta, Sweet Sins, Encore Company, Avexia and verano, and operates Zen Leaf™ branded dispensaries. Management highlights roughly 150 SKUs and says it operates or manages nine profitable licensed facilities. Its footprint spans Illinois, Florida, Maryland, Nevada, Michigan, Ohio and Puerto Rico with additional states planned for 2019. Verano is pursuing aggressive national expansion, is actively seeking future financings and is considering a go-public transaction. The company is consolidating operations including a pending acquisition of 3 Boys Farms in Florida to expand its retail reach and population coverage.