AFI Capital Partners

AFI Capital Partners, established in 2018, is a Seattle-based growth equity firm. It manages venture capital funds, including AFI Capital Partners Fund I (2018 vintage) and Fund II, investing in early and growth-stage companies.

Chi-Chien Hou

Co-Founder and Managing Director

Nico Richardson

Co-Founder and Managing Director

10 past transactions

Botanica Seattle

Series B in 2023
Botanica Seattle specializes in the production of natural and handmade cannabis edibles. Its products include mixed fruit chews, chocolate pattie, infused cannabis oil, and cannabis mint made from an alcohol-based extraction process with multiple stages of quality control to guarantee accurate and consistent dosing during final formulation, enabling people to enjoy the taste of handmade cannabis product. The company was founded in 2013 and is headquartered in Seattle, Washington.

Biopharmaceutical Research Company

Series A in 2022
Biopharmaceutical Research Company specializes in the development of active pharmaceutical ingredients for plant-based therapeutics, with a particular focus on cannabis and hemp. The company provides comprehensive analysis services, including potency and contaminant testing, as well as stability data generation. These services support researchers across the United States in their efforts to discover treatments for conditions such as post-traumatic stress disorder and chronic pain, particularly benefiting patients and veterans. Biopharmaceutical Research Company is committed to advancing the field of plant therapeutics while ensuring compliance with USDA standards for THC testing.

Compassionate Cultivation

Series B in 2021
Compassionate Cultivation LLC is a medical cannabis company based in Manchaca, Texas, established in 2016. The company specializes in the production of medical-grade cannabis products designed to assist patients suffering from various severe health conditions, including intractable epilepsy, seizure disorders, multiple sclerosis, and other neurodegenerative diseases. Compassionate Cultivation grows, processes, and dispenses CBD medicine, offering both pure and plus blend products. In addition to product sales, the company provides patient consultations and physician outreach resources, ensuring that patients have access to detailed information about their offerings. Compassionate Cultivation is dedicated to improving the quality of life for individuals with challenging medical conditions through the therapeutic use of cannabis.

Sweet Flower

Series A in 2021
Sweet Flower is the largest independent cannabis retailer in Southern California, focusing on creating an approachable and sophisticated cannabis culture. The company treats cannabis as a consumer packaged good, offering a diverse range of products, including topicals, tinctures, edibles, and flowers. Sweet Flower operates both physical stores and an e-commerce platform, ensuring accessibility for all customers, from those new to cannabis to more experienced users. Their retail experience emphasizes concierge-level service, with knowledgeable staff dedicated to providing curated wellness experiences tailored to the unique needs of each individual.

Vertosa

Seed Round in 2019
Vertosa Inc. is a cannabis technology company based in Oakland, California, specializing in the manufacture of active ingredients for infused product makers. Incorporated in 2018 and formerly known as Nanogen Labs Inc., the company focuses on developing customized nano- and micro-emulsions tailored to meet the specific needs of its clients. Vertosa's innovative pre-suspended aqueous solutions and powders enhance the stability, homogeneity, and bioavailability of infused products, ensuring clarity and improved taste. By collaborating closely with customers and lab partners throughout the manufacturing process, Vertosa aims to help brands achieve target potency and accelerate the introduction of reliable, high-quality infused products to the market.

Front Range Biosciences

Series B in 2019
Front Range Biosciences, Inc. is an agricultural biotechnology company focused on the breeding and production of innovative plants and seeds in the hemp, coffee, and cannabis sectors. Founded in 2015 and based in Lafayette, Colorado, the company specializes in tissue culture propagation and the development of high-value crops at scale, improving the consistency and efficiency of clone and seed production. Front Range Biosciences features a Clean Stock program which supplies disease- and pest-free plants to farmers while offering data-driven breeding solutions aimed at enhancing commercially relevant traits. The company also provides rooted cuttings, pre-finished plants, and feminized hemp seeds, enabling cultivators to increase yields, reduce disease prevalence, and develop novel strains, ultimately contributing to modern agricultural practices in these industries. Additional offices in Wisconsin, California, and Spain support its operations and research initiatives.

Willow Industries

Venture Round in 2019
Willow Industries, LLC is a technology company based in Denver, Colorado, specializing in the decontamination of cannabis and hemp. Founded in 2016, the company provides a unique solution for post-harvest microbial decontamination through its patent-pending machine, WillowPure. This machine employs ozone-based oxidation to effectively reduce harmful contaminants such as mold, yeast, mildew, Aspergillus, Salmonella, and E. Coli, without compromising the flower's medicinal properties, aroma, potency, or visual appearance. In addition to its decontamination technology, Willow Industries offers consulting services related to compliance, regulations, and testing procedures, as well as evaluations of dry and curing rooms.

Headset

Series A in 2019
Headset Inc. is a cannabis market intelligence company that operates a data-driven platform tailored for the cannabis industry. Founded in 2015 and headquartered in Bellevue, Washington, Headset provides a range of business intelligence services aimed at producers, processors, and retailers. Its flagship product, Headset Insights Pulse, delivers real-time market insights and contextualized industry data at various category levels, enabling cannabis business owners, investors, and media professionals to track market trends over time. The platform aggregates multiple reporting sources to assist clients in monitoring product and brand positioning, assessing competitive landscapes, and identifying business opportunities. Through its comprehensive analytics, Headset supports dispensaries and retailers in inventory forecasting, sales optimization, and brand management, empowering them to make informed decisions based on actionable data.

Treez

Series A in 2018
Treez, Inc. is a company that develops an enterprise cloud commerce platform tailored for the cannabis market, focusing on retail management solutions for medical marijuana dispensaries in the United States. Established in 2016 and based in Oakland, California, Treez offers a comprehensive suite of software services designed to streamline operations across the cannabis supply chain. Its platform includes point of sale systems, dispensary inventory management, and omnichannel sales capabilities, all while ensuring regulatory compliance for every transaction. Additionally, Treez connects brands with retailers through a centralized catalog, providing real-time market insights. The platform is designed for integration with various third-party solutions, enhancing retailers' abilities to adapt to industry changes and optimize their business performance.

Treez

Seed Round in 2016
Treez, Inc. is a company that develops an enterprise cloud commerce platform tailored for the cannabis market, focusing on retail management solutions for medical marijuana dispensaries in the United States. Established in 2016 and based in Oakland, California, Treez offers a comprehensive suite of software services designed to streamline operations across the cannabis supply chain. Its platform includes point of sale systems, dispensary inventory management, and omnichannel sales capabilities, all while ensuring regulatory compliance for every transaction. Additionally, Treez connects brands with retailers through a centralized catalog, providing real-time market insights. The platform is designed for integration with various third-party solutions, enhancing retailers' abilities to adapt to industry changes and optimize their business performance.
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