Intrinsic Capital Partners Raises $102M To Back Ancillary Cannabis Companies

Cannabis-oriented investment firm Intrinsic Capital Partners confirmed Tuesday the closing of a $102 million growth equity fund.

Intrinsic Health Partners LP will invest in technology companies that are part of the legal cannabis and hemp industries.

"While developing our investment thesis and fund strategy, it became clear to us that many of these businesses would benefit from more than just capital," said Cornelius Merlini, one of the principals at Intrinsic. "So, we built a top team of advisors who have scaled valuable businesses and are able to provide our portfolio companies with strategic advice, mentoring, operational support and regulatory know-how."

Intrinsic Capital Partners claims to be the first investment firm oriented on ancillary cannabis and hemp businesses having both skilled investors and technology operators.

The company boasts a network of experienced advisors covering various sectors such as technology, healthcare, regulatory affairs, and consumer marketing.

What differentiates Intrinsic from other investment firms in the industry is their focus on ancillary life science and technology companies instead of on growers and dispensaries.

"We are excited to invest on behalf of our investors in this high growth industry," said Howard Goodwin M.D., one of three founders of Intrinsic. "We believe this is a multi-decade secular trend, and a rare opportunity to invest in a space where there's tremendous underlying demand, a strong industry-wide growth profile and scarcity of capital."

So far, Intrinsic has supported four companies in its portfolio with $65 million, those being Treez Inc., ACT Laboratories Inc., Elemental Brands Inc. and Hound Labs Inc.

With the first fund, the firm plans to support two or three more companies.

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