Mendon Venture Partners Announces Lead Investment in Green Check, Signaling Boom in Cannabis Industry
On February 22, 2023, Mendon Venture Partners, an investment firm aimed at technology and banks, announced its lead investment in Green Check, a cannabis-related business servicing financial institutions. This comes after many states have begun to legalize marijuana for recreational use and usher in a booming cannabis industry.[0]
The investment was led by Daniel Goldfarb, co-founder and partner of Mendon Venture Partners. He stated, “To invest, we need to see strong management, company potential, and opportunity for total market growth, and Green Check meets and exceeds our expectations in every category.”[1]
In addition to the Green Check investment, recent cannabis-related news includes the opening of the first NYC cannabis dispensary in early 2021, and the passing of Senate Bill 2321 in Washington State.[0] This bill protects employees who consume cannabis off the job from employment discrimination.[2] However, employers are still able to maintain their drug-free workplace policies, and certain jobs, such as those in the airline and aerospace industries, are excluded from the bill.[3]
The impact of cannabis use in pregnancy has also been studied, with a presentation of the Society for Maternal-Fetal Medicine finding that early pregnancy cannabis use is associated with adverse pregnancy outcomes.[4]
As the cannabis industry continues to boom, Mendon Venture Partners’ investment in Green Check signals an exciting new step for the industry. With its unique approach, aligned partnerships, and rigorous analysis, Mendon Venture Partners hopes to realize and add value to the industry.
0. “Cannabis News | Cannabis Blog | Herban Creative” herbancreativenj.com, 24 Feb. 2023, https://herbancreativenj.com/cannabis-news
1. “Green Check Verified nabs $6m to further bridge cannabis and finance” fintech.global, 24 Feb. 2023, https://fintech.global/2023/02/24/green-check-verified-nabs-6m-to-further-bridge-cannabis-and-finance/
2. “State Policy Weekly Update 2/22/2023 – NORML” norml.org, 24 Feb. 2023, https://norml.org/blog/2023/02/22/state-policy-weekly-update-2-22-2023/
3. “State senate passes bill that would ban pre-employment cannabis …” mynorthwest.com, 24 Feb. 2023, https://mynorthwest.com/3838085/state-senate-bill-ban-pre-employment-cannabis-tests/
4. “Early Pregnancy Cannabis Exposure Tied to Adverse Pregnancy …” www.channel3000.com, 24 Feb. 2023, https://www.channel3000.com/news/health/early-pregnancy-cannabis-exposure-tied-to-adverse-pregnancy-outcomes/article_529be2a0-82ae-5254-97a7-13cd85f74f2a.html
