Marijuana management firm MedMen is aiming to raise $250 million to invest in cannabis businesses in the California, Nevada and New York markets.
The fund, called MedMen Opportunity Fund II, is going to specifcially target plant-touching companies, including retailers and growers, Bloomberg reported.
Those behind the fundraising push believe it’s a solid time to invest, in large part because “assets are cheaper because of the risk, and fewer investors are willing to get into the space,” Bloomberg reported.
The minimum buy-in for investors is $3 million, according to Bloomberg.
MedMen’s management group and pair of existing funds already own or run 11 MJ businesses, including eight dispensaries, two cultivation operations and a manufacturing facility.
The company also completed a $60 million fundraising investment round last year, though its stated goal last June was $100 million.
