Dov Szapiro

Dov Szapiro is Co-founder and Managing Partner of Entourage Effect Capital, the cannabis investment firm formerly known as Cresco Capital Partners. EEC says it was founded in 2014, has deployed more than $140 million, and has invested in more than 60 portfolio companies. The firm is currently deploying Fund III, a growth-stage cannabis fund with an early-stage allocation through Arcview Ventures Seed Fund.

Szapiro’s first cannabis exposure was as an angel investor in companies including High Times, BDS Analytics, LoudPack Inc., and Econnabis SAS, which was sold to Plena Global Holdings. Before co-founding EEC, he partnered with Andy Sturner to recapitalize MacArthur Capital and led the merger of Chemistry Holdings into CURE Pharmaceutical.

Before cannabis, Szapiro built a 20-plus-year career as an entrepreneur, investor, advisor, executive, and board member. SEC filings for Avenir Wellness state that he founded e54 Capital in 2016, co-founded AFS Acceptance LLC and served as its President and CEO from 2001 to 2017, worked as Director of Business Development at GovWorks, and earlier was an analyst at Bassini, Playfair + Associates, a $1.2 billion emerging-markets private equity firm. He holds a B.B.A. from the University of Pennsylvania.

• EEC’s stated positioning is “Transforming cannabis companies into industry leaders,” relying on expertise, networks, and investment processes to build an industry-leading cannabis investment firm.
• Fund III focuses on “companies positioned to scale ahead of federal legalization.”
• EEC’s investment categories include plant-touching businesses, ancillary and services companies, production and brands, and science and technology.
• The firm says its edge comes from deep cannabis and traditional-industry expertise, active portfolio support, experience-driven diligence, an extensive network, and market analysis.
• EEC describes itself as an active investor: it helps portfolio companies through dedicated portfolio managers, facilitates introductions and M&A, and says it has run activist shareholder campaigns at publicly traded companies.
• In a New Cannabis Ventures interview, Matt Hawkins said EEC begins diligence with management-team quality and looks for businesses with a path to profitability and real top-line performance rather than only projections.
• EEC has historically used equity investments and has also used convertible notes and senior secured debt with warrant protection in cannabis-related companies.