- Arcview Group — a premier cannabis industry investor network that connects accredited investors with cannabis-related businesses seeking capital — announced it raised $7.7 million
The Arcview Group — a premier cannabis industry investor network that connects accredited investors with cannabis-related businesses seeking capital — announced it has raised $7.7 million in Series A financing led by Trivergance Investments in partnership with Cresco Capital Partners
As more accredited investors turn to the cannabis sector, Arcview is meeting their complex needs. And this round of funding accelerates Arcview capabilities to fulfill various business functions — which will help both cannabis investors and companies seek funding.
“For the last nine years, Arcview has been able to bring together cannabis investors and entrepreneurs. Arcview now has the funding and new partners to enhance its current program and expand their offerings to those becoming involved in the industry,” said Arcview CEO Troy Dayton.
Many of the investors from the Arcview investor community participated in this and a previous round of funding. This group includes former AB Inbev CMO, Chris Burggraeve, Treehouse Ventures’ Lindy Lou Snider, Mazakali’s Sumit Mehta, Berkeley Patients Group’s Tim Schick, and Étienne Fontán, Dixie Brands’ Tripp Keber, cannabis investment luminary David Wenger, renowned entrepreneur mentor Francis J. Priznar and former Congressman Edward Feighan.
“We are immensely proud to have sponsored and led this transaction. We believe Arcview leads the way in building trust and a solid, lasting brand in this developing market, and represents an opportunity for us to continue delivering on our unique business model,” said Jerry Stone — Trivergance Investments Managing Member and Arcview’s new Executive Chairman. “We see Arcview as the single ‘true north star’ both for investors looking to find quality investment opportunities and efficiently deploy capital in the cannabis sector as well as entrepreneurs seeking to acquire capital and grow their businesses. Arcview will continue to lead the way on both sides of that equation as prohibition comes to an end, and rational business market forces come to fruition.”
In conjunction with this funding round, Stone, Jonathan Washburn (Ampology co-CEO) and Codie A. Sanchez (Cresco Capital Managing Director) will join existing board members Troy Dayton and Gregg Steinberg on the Arcview board.
“We have been a proud partner of Arcview from many years, as several of our portfolio companies have successfully raised capital through their platforms,” added Sanchez. “We see a real need for the new asset management offerings in development at Arcview to fuel great ideas and passionate entrepreneurs. We are thrilled to help continue to insure cannabis startups receive the funding they need to flourish.”
Arcview was founded in 2010 by cannabis pioneers Dayton and Steve DeAngelo. Arcview was the first and is the largest group of investors in the cannabis sector as it helped over 1,500 accredited investor members place over $260 million into over 200 companies including notable companies like Ebbu, Tokyo Smoke, MJ Freeway, 4Front, Harborside, Eaze, Meadow, MJardin, Green Flower Media, Growcentia, Wurk, Spring Big, and Phylos Biosciences.
“Strengthening the Arcview funding and information infrastructure will help this flourishing new sector and the ever-expanding pool of accredited investors who are interested in the cannabis sector. We see a tremendous opportunity to help tens of thousands of investors and in turn, thousands of companies over time,” explained Washburn.