Viola Closes $16 Million Investment Round Led By Gotham Green Partners
LOS ANGELES, Oct. 7, 2019 /PRNewswire/ — Viola, a national leader in the production and sale of premium top quality cannabis items founded by NBA veteran Al Harrington, now announced the closing of a $16 million funding round led by Gotham Green Partners. The investment firm, recognized for its monetary assistance of some of the most trustworthy cannabis firms in the sector, is the initially institutional investment in the business.
This most recent round of funding will help with the acquisition of a 34,500 sq. ft cultivation, processing and distribution facility in Adelanto, California as nicely as the completion of Viola’s 48,000 sq. ft facility in Detroit, Michigan. The funds will also allow Viola to continue to advance the development of the company’s personnel with essential new hires that will continue to establish Viola as a leader in the cannabis marketplace.
Viola emerged on the scene with a commitment to creating an effect by advertising social equity via growing minority participation in the cannabis sector and positively impacting communities by reinvesting in folks most impacted by the war on drugs. Viola raised $15 million prior to this round of funding, which enabled the business to develop its solution offerings and footprint inside the cannabis sector. The business is at the moment operating in California, Colorado, Oregon and Michigan, with plans to expand into Maryland, Nevada and Arizona in 2020.
More than the final 5 years, Viola has been devoted to building and generating top quality herbal experiences for our clients. With the monetary assistance and investment of Gotham Green Partners, our potential to dedicate much more physical space to increasing and cultivating our flowers and group will make the possibilities endless.
Al Harrington, CEO of Viola
“We are thrilled to be aligned with Viola as the business expands its life-style brand into new markets,” stated Jason Adler, Managing Member of Gotham Green Partners. “As the firm’s visionary, Al has effectively launched the idea and subsequently surrounded himself with a prime-notch management group. Additional, Al’s background and the company’s mission resonate with a broad and engaged customer base, and we are excited to see Viola items on much more retail shelves across the nation.”
Founded in 2011 by NBA veteran Al Harrington, Viola is 1 of the nation’s major producers and licensed wholesalers of premium top quality cannabis items. The brand is named just after and inspired by Al’s grandmother, who suffers from glaucoma and diabetes and finds solace in cannabis treatments.
Viola produces a variety of cannabis items catered to individuals’ palate and requirements. From cultivating premium flower to processing butane extracts, Viola manages every single aspect of the production course of action, applying the most recent and most confirmed technologies to make sure the consistency and top quality of its items. Viola is at the moment readily available in Colorado, Oregon, Michigan and California.
For much more data on Viola, please take a look at: https://violabrands.com/
About Gotham Green Partners:
Gotham Green Partners is a New York and California-primarily based private equity firm focused on deploying capital into cannabis and cannabis-connected enterprises on a worldwide scale. The firm manages a diversified portfolio of investments and is actively investing across the cannabis worth chain.
Original press release