Greenfield Capital Partners announced it has made its first investment in the legal cannabis industry, investing $5 million in Fort Lauderdale, Florida-based BioTrackTHC.

 

Over the past two years, BioTrack has grown to become a leader in the legal cannabis software space, gaining contracts with the states of New York, New Mexico, Illinois, and Washington, as well as regulatory agencies in Jamaica and Uruguay.

 

The company provides ‘seed-to-sale’ business intelligence and tracking software for the legal cannabis industry including its Enterprise System and Traceability System.

 

BioTrack’s Enterprise System is currently being used by over 1,200 customers across 18 U.S. states and three countries for cultivation tracking, management of inventory, patients, and point-of-sale, and user-friendly accounting reporting. BioTrack’s Traceability System provides government agencies with real-time tracking of cannabis throughout the entire supply chain from cultivation to harvest, curing, quality assurance testing, transportation, distribution, and sale. The system supports agencies with enforcing regulations, collecting taxes, and preventing the illegal use of the product.

 

Maryland-based Greenfield Capital is planning investments throughout the legal cannabis supply chain with a particular focus on infrastructure ventures that support growth in the industry. The firm expects that its first investment in BioTrack will avail the firm of valuable information that will help guide its future investments in the space and drive value for its other companies in its portfolio.