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Gotham Green Partners company logo
Private Equity
gothamgreenpartners.com

Investments

22

Portfolio Exits

2

Funds

11

About Gotham Green Partners

Gotham Green Partners is a New York-based private equity firm focused on deploying capital into cannabis and cannabis-related enterprises on a global scale. The firm manages a diversified portfolio of investments and is actively investing across the cannabis value chain.

Headquarters Location

489 Fifth Ave Suite 29A

New York, New York, 10017,

United States

212-659-3838

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Latest Gotham Green Partners News

iAnthus extends debt, makes error in earnings report

Feb 20, 2024

Beleagured cannabis company iAnthus Capital Holdings Inc.  (OTC: ITHUF) has extended its debt payments and told investors that it will have to restate its third-quarter earnings filing. Need more time iAnthus amended the terms of its senior secured bridge notes issued on February 2, 2021, to parties including Gotham Green Partners, LLC, Oasis Management Company, […] Viridian Capital Advisors has tried to tackle valuation metrics for companies in the psychedelic industry, despite many having no revenue to speak of. Last week, Viridian looked at five companies in the Viridian Value Tracker database with market caps between $10 million and $100 million to get baseline valuation metrics for the Numinus Wellness (NUMI: […] In other news Need more time iAnthus amended the terms of its senior secured bridge notes issued on February 2, 2021, to parties including Gotham Green Partners, LLC, Oasis Management Company, Ltd., and Senvest Management along with others. At the beginning of February 2024, the lenders agreed to a short-term extension of the maturity date from February 2, 2024, to February 16, 2024. The maturity date of the Bridge Notes was then extended from February 16, 2024, to February 16, 2026, and the interest will remain the same 12% per year, but interest accruing after February 16, 2024, will be payable in quarterly cash payments. “We are pleased with the terms of the Amendment because it allows the Company to continue to invest and expand within the State of New Jersey as planned, which is a key initiative for the Company in 2024,” said Richard Proud, Chief Executive Officer of the Company. According to the company statement, the aggregate principal amount outstanding on the Bridge Notes is approximately $15.8 million. iAnthus also said it has agreed to use 25% of Non-Operational Cash Receipts over $5 million to make payments towards the principal amount outstanding under the Bridge Notes, without penalty. In December, iAnthus settled a complaint from Hi-Med LLC, the former holder of an unsecured debenture of the company in the principal amount of $5 million, in the U.S. District Court for the Southern District of New York. Hi-Med sought damages and other remedies against iAnthus for, among other things, alleged breaches of the Unsecured Debenture and the related Debenture Purchase Agreement. H-Med agreed to take 20 million shares of stock to settle the litigation. Oops we goofed On Friday after the markets closed and before a three-day weekend, iAnthus told investors that it had identified an error related to its financial reporting process for the third quarter earnings. The mistake was in connection with an “intercompany consolidation of two wholly-owned subsidiaries and the valuation of inventory, both resulting in an overstatement of inventory” in its previously issued unaudited interim condensed consolidated financial statements for its fiscal quarter ended September 30, 2023, filed with the Securities and Exchange Commission on November 9, 2023. Ianthus said that the error has no impact on the cash balance as of September 30, 2023, and results in no net change in cash flows. The company statement said that the mistake resulted in an overstatement of ‘inventories , net’ and ‘accrued and other current liabilities’ on the unaudited interim condensed consolidated balance sheet as of September 30, 2023, and an overstatement of ‘income tax expense’, and an understatement of ‘cost and expenses applicable to revenues’, on its unaudited interim condensed consolidated statements of operations for the three and nine months ended September 30, 2023.

Gotham Green Partners Investments

22 Investments

Gotham Green Partners has made 22 investments. Their latest investment was in Trait Biosciences as part of their Series B on October 12, 2023.

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Gotham Green Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/12/2023

Series B

Trait Biosciences

No

2

9/7/2022

Seed

engin

$2.5M

Yes

Undisclosed Investors

2

3/28/2022

Series B

Lucid Green

$10M

Yes

3

8/25/2021

Series C

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$99M

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10

3/31/2021

Series A - III

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$99M

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10

Date

10/12/2023

9/7/2022

3/28/2022

8/25/2021

3/31/2021

Round

Series B

Seed

Series B

Series C

Series A - III

Company

Trait Biosciences

engin

Lucid Green

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Amount

$2.5M

$10M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Undisclosed Investors

Sources

2

2

3

10

10

Gotham Green Partners Portfolio Exits

2 Portfolio Exits

Gotham Green Partners has 2 portfolio exits. Their latest portfolio exit was LucidMood on January 31, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/31/2022

Acquired

$99M

4

8/18/2021

Corporate Majority - P2P

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$99M

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10

Date

1/31/2022

8/18/2021

Exit

Acquired

Corporate Majority - P2P

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

4

10

Gotham Green Partners Fund History

11 Fund Histories

Gotham Green Partners has 11 funds, including Gotham Green Fund 1 LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2017

Gotham Green Fund 1 LP

Early-Stage Venture Capital

Closed

1

Gotham Green Partners SPV VI

1

Gotham Green Partners SPV VI Offshore

1

Gotham Green Credit Partners SPV I

10

Gotham Green Partners SPV III

10

Closing Date

12/31/2017

Fund

Gotham Green Fund 1 LP

Gotham Green Partners SPV VI

Gotham Green Partners SPV VI Offshore

Gotham Green Credit Partners SPV I

Gotham Green Partners SPV III

Fund Type

Early-Stage Venture Capital

Status

Closed

Amount

Sources

1

1

1

10

10

Gotham Green Partners Team

1 Team Member

Gotham Green Partners has 1 team member, including current Managing Partner, Jason Adler.

Name

Work History

Title

Status

Jason Adler

Managing Partner

Current

Name

Jason Adler

Work History

Title

Managing Partner

Status

Current

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