Acreage Holdings Closes $119M Funding Round

Acreage Holdings Closes $119M Funding Round

The New York cannabis company has dispensaries and greenhouses in 13 states.

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July 24, 2018

Acreage Holdings is rolling in the green.

The New York cannabis company, with dispensaries and greenhouses in 13 states, just closed a $119 million funding round.

High-net-worth individuals and family offices were the biggest investors, chief executive Kevin Murphy told The Post.

With marijuana still illegal on a federal level, many institutional investors shy away from investing in the budding cannabis industry. But that’s not to say they weren’t peeking at Acreage’s pitch book.

“The due diligence process takes longer for institutional investors,” Murphy noted, adding that individuals could be more “nimble.”

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