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RIV Capital

Full company profile

uuid00069hp

Namestring
RIV Capital
Legal namestring
RIV Capital
Websiteurl
rivcapital.com
Company typeenum
Public
Founded yearint
2017
Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersToronto, Canada
HQ citystring
Toronto
HQ countrystring
Canada
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
cannabis investment platform, venture capital cannabis, strategic cannabis acquisitions, cannabis dispensary operations, institutional DeFi liquidity
Industry3 codes
1Portfolio Management–Led RIAs (Discretionary/Model-Based)
CodeFSAAACACPrimaryYes
2Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes)
CodeFSAAACALPrimaryNo
3Digital/Hybrid RIAs (Robo-Enabled, Tech-Forward)
CodeFSAAACAJPrimaryNo
NAICS code2 codes
  • Portfolio Management and Investment Advice523940
  • Other Investment Pools and Funds5259
SIC code1 code
  • Investment Advice6282
Product category
Cannabis Investment and Operations
Social media profiles2 records
Cost components6 values
Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

RIV Capital was a cannabis investment and acquisition firm that built a U.S. cannabis platform through strategic equity investments and acquisitions of licensed cannabis operators and brands, most notably acquiring Etain in New York in 2022 for $247 million. Following its 2024 acquisition by Cansortium/FLUENT, its dispensary operations were integrated into FLUENT's vertically integrated retail network. A related RIV Capital Group entity launched RIV Coin, a Solana-based digital asset targeting institutional DeFi liquidity.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

RIV Capital operated as a cannabis investment firm that built a U.S. cannabis platform through strategic acquisitions and investments in cannabis operators and brands. The company received a $150 million investment from The Hawthorne Collective (Scotts Miracle-Gro subsidiary) in 2021 to accelerate platform expansion. RIV Capital was acquired by Cansortium (FLUENT Corp) in December 2024, with FLUENT rebranding the acquired New York dispensaries under the FLUENT brand. RIV Capital Group also launched RIV Coin, a Solana-based token for institutional DeFi liquidity solutions.

Product and service3 records
1U.S. Cannabis Platform (investment and acquisition platform)
CategoryCannabis investment and acquisition platform
Description

RIV Capital's investment platform focused on strategic acquisitions and investments in U.S. cannabis operators and brands. It was accelerated through a $150 million convertible-note investment from The Hawthorne Collective and used to acquire regulated cannabis assets (notably Etain in New York) and integrate cultivation, production, distribution, and retail operations.

2RIV Coin ($RIV)
CategoryDigital asset / institutional DeFi
Description

A token built on the Solana blockchain that aims to connect off-chain capital with on-chain liquidity for institutional investors. Part of a digital asset ecosystem developing reserve-backed liquidity solutions and related financial products for institutional DeFi adoption.

3Cannabis dispensary operations (New York)
CategoryCannabis retail / dispensary operations
Description

Licensed cannabis dispensary operations in New York (Manhattan and White Plains), used to serve medical and adult-use cannabis consumers and integrated into the vertical retail platform. These operations were subsequently rebranded under the FLUENT brand after the December 2024 Cansortium acquisition.

Scale indicator3 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
1Cansortium (FLUENT)
Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2024-12-19
Description

Cansortium (FLUENT Corp.) completed the acquisition of RIV Capital in December 2024. The transaction involved a stock exchange, debt elimination, and strategic restructuring, including a significant cash infusion for FLUENT. This acquisition added operations in New York and other states, enhancing FLUENT's market presence in the U.S. cannabis industry.

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks7 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles7 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds2 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors4 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment17 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

RIV Capital

Cannabis Investment and Operationsrivcapital.com

RIV Capital firmographics

Firmographics
Name
RIV Capital
Legal name
RIV Capital
Website
https://rivcapital.com
Company type
Public
Founded year
2017
Operating status
Acquired
Headcount range
1–10 employees
Ownership category
akta.pro rank

RIV Capital industry classification

Industry
Product category
Cannabis Investment and Operations
NAICS
Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
SIC
Investment Advice (6282)
akta.pro primary industry
Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)
akta.pro secondary industries
Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes) (FSAAACAL), Digital/Hybrid RIAs (Robo-Enabled, Tech-Forward) (FSAAACAJ)

Keywords

  • Cannabis investment platform
  • Venture capital cannabis
  • Strategic cannabis acquisitions
  • Cannabis dispensary operations
  • Institutional DeFi liquidity

Where RIV Capital is headquartered

Location

Headquarters

HQ city
Toronto
HQ country
Canada
HQ region
North America

Markets served

RIV Capital business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

RIV Capital product offering

Product offering

Core offering

RIV Capital was a cannabis investment and acquisition firm that built a U.S. cannabis platform through strategic equity investments and acquisitions of licensed cannabis operators and brands, most notably acquiring Etain in New York in 2022 for $247 million. Following its 2024 acquisition by Cansortium/FLUENT, its dispensary operations were integrated into FLUENT's vertically integrated retail network. A related RIV Capital Group entity launched RIV Coin, a Solana-based digital asset targeting institutional DeFi liquidity.

Product overview

RIV Capital operated as a cannabis investment firm that built a U.S. cannabis platform through strategic acquisitions and investments in cannabis operators and brands. The company received a $150 million investment from The Hawthorne Collective (Scotts Miracle-Gro subsidiary) in 2021 to accelerate platform expansion. RIV Capital was acquired by Cansortium (FLUENT Corp) in December 2024, with FLUENT rebranding the acquired New York dispensaries under the FLUENT brand. RIV Capital Group also launched RIV Coin, a Solana-based token for institutional DeFi liquidity solutions.

Differentiator

Problem solved

Functional benefit

Products and services

  • U.S. Cannabis Platform (investment and acquisition platform) RIV Capital's investment platform focused on strategic acquisitions and investments in U.S. cannabis operators and brands. It was accelerated through a $150 million convertible-note investment from The Hawthorne Collective and used to acquire regulated cannabis assets (notably Etain in New York) and integrate cultivation, production, distribution, and retail operations.
  • RIV Coin ($RIV) A token built on the Solana blockchain that aims to connect off-chain capital with on-chain liquidity for institutional investors. Part of a digital asset ecosystem developing reserve-backed liquidity solutions and related financial products for institutional DeFi adoption.
  • Cannabis dispensary operations (New York) Licensed cannabis dispensary operations in New York (Manhattan and White Plains), used to serve medical and adult-use cannabis consumers and integrated into the vertical retail platform. These operations were subsequently rebranded under the FLUENT brand after the December 2024 Cansortium acquisition.

Companies that use RIV Capital

Customer profile

Segments1 record

Ideal customer profiles2 records

RIV Capital technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

RIV Capital partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • Cansortium (FLUENT)flagshipStrategic or Co-development Partner · 19 December 2024Cansortium (FLUENT Corp.) completed the acquisition of RIV Capital in December 2024. The transaction involved a stock exchange, debt elimination, and strategic restructuring, including a significant cash infusion for FLUENT. This acquisition added operations in New York and other states, enhancing FLUENT's market presence in the U.S. cannabis industry.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

RIV Capital competitors and assessment

Company assessment

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

RIV Capital social profiles

Digital presence

RIV Capital financial estimates

Financial estimate

Revenue estimate

Valuation estimate

RIV Capital leadership team

Management profile

Number of profiles

Profiles7 records

RIV Capital funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

RIV Capital M&A and investment

M&A and investment

M&A1 record

Investments17 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RIV Capital

What does RIV Capital do?

RIV Capital was a cannabis investment and acquisition firm that built a U.S. cannabis platform through strategic equity investments and acquisitions of licensed cannabis operators and brands, most notably acquiring Etain in New York in 2022 for $247 million. Following its 2024 acquisition by Cansortium/FLUENT, its dispensary operations were integrated into FLUENT's vertically integrated retail network. A related RIV Capital Group entity launched RIV Coin, a Solana-based digital asset targeting institutional DeFi liquidity.

Is RIV Capital a public or private company?

RIV Capital is a public company. It is classified as public and is currently acquired.

When was RIV Capital founded?

RIV Capital was founded in 2017. It employs 1 to 10 people.

Where is RIV Capital based?

RIV Capital is headquartered in Toronto, Canada, in the North America region.

Does RIV Capital have an API?

No public API is recorded for RIV Capital.

What industry is RIV Capital in?

RIV Capital's product category is Cannabis Investment and Operations. Its primary akta.pro industry code is FSAAACAC, Portfolio Management–Led RIAs (Discretionary/Model-Based), with a secondary code of FSAAACAL, Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes). Its NAICS code is 523940 and its SIC code is 6282.

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Live signals
Markets DailyCanopy Rivers (CVE:RIV) Trading Up 8.1% – Time to Buy?Canopy Rivers Inc's stock rose 8.1% on Wednesday, trading as high as C$2.61 and closing at C$2.53. Mid-day volume surged 103% to 984,044 shares, up from the average 485,227. The company, a Toronto-based cannabis investment firm, holds a market cap of C$474.50 million.Markets DailyCanopy Rivers (CVE:RIV) Trading 8.1% Higher – Time to Buy?Shares of Canopy Rivers Inc (CVE:RIV) traded up 8.1% during Wednesday trading, reaching C$2.53 from a previous close of C$2.34, with trading volume increasing 103% to 984,044 shares.Investing.comRIV Coin Launches on Solana to Bridge Institutional Capital with DeFi Infrastructure By ChainwireRIV Coin ($RIV), a vault protocol token built on the Solana blockchain, has officially launched as the core utility and governance token of a reserve-backed digital asset ecosystem developed within RIV Capital Group. The project introduces a verifiable on-chain vault framework enabling off-chain institutional capital to interact with on-chain DeFi liquidity while maintaining privacy and verification standards, with capital allocated into a segregated vault within a regulated fund. The ecosystem includes StablePay, a crypto-to-fiat payment solution, and the RIV Wallet, a multi-chain wallet, positioning the launch as a new paradigm combining institutional capital with decentralized finance infrastructure.GlobeNewswireFLUENT Unifies New York Retail Network with Rebranding of Manhattan and White Plains DispensariesFLUENT Corp announced the rebranding of its Manhattan and White Plains dispensaries, marking the second and third adult-use locations in New York to transition under the FLUENT brand, following the company's acquisition of RIV Capital in December 2024. The completion of these three rebranded locations in Kingston, White Plains, and Manhattan is expected to significantly strengthen FLUENT's presence in one of the fastest-growing adult-use cannabis markets in the United States. The company is also preparing for its first harvest from its new indoor cultivation facility in Buffalo, with premium flower expected to reach dispensary shelves in Q4.PR NewswireCansortium Reports Third Quarter 2024 ResultsCansortium Inc. reported Q3 2024 financial results with revenue of $26.1 million, representing a 3.5% year-over-year increase, alongside $7.5 million in adjusted EBITDA and $9.6 million in positive cash flow from operations for the 12th consecutive quarter. The company completed a new $96.5 million senior secured credit agreement with Chicago Atlantic Admin, LLC, refinancing its existing $71 million term loan, and expects to close its business combination with RIV Capital Inc. in early December 2024. Cansortium operates 35 stores in Florida with plans to add four more by end of 2025, while continuing expansion in Pennsylvania and Texas.PR NewswireRIV Capital Provides Update on Revenue Performance and Synergy Realization Ahead of Anticipated Business CombinationRIV Capital Inc. announced that its year-to-date net revenue doubled compared to the prior year as of October 23, 2024, driven by robust retail performance following the adult-use sales launch in New York and strong bulk wholesale performance. The company achieved record retail transactions, wholesale accounts, and bulk buyers in Q3 2024, expanded wholesale to over 50 customers, executed a distribution partnership with Nabis, and received New York Control Board approval for its business combination with Cansortium. Pre-closing synergies are being realized faster than anticipated, positioning the company for an efficient integration.Business of CannabisRIV Capital Signs Distribution Deal With Nabis to Expand in to New York MarketRIV Capital signed a distribution agreement with Nabis to expand its presence in New York's legal cannabis market, leveraging Nabis' fulfillment and analytics services. This partnership follows regulatory approval for RIV Capital's merger with Fluent, which will form the combined entity Cansortium later in 2024.GoodwinlawRIV Capital and Cansortium Announce Business CombinationCansortium has entered into a definitive arrangement agreement to acquire all outstanding shares of RIV Capital in exchange for Cansortium common shares. Upon closing, the combined entity will operate 8 cultivation and processing facilities alongside 42 retail dispensaries across Florida, New York, Texas, and Pennsylvania. Moelis & Company served as the financial advisor for RIV Capital in this transaction.PR NewswireCansortium and RIV Capital Announce Business CombinationCansortium Inc. has entered into a definitive agreement to acquire RIV Capital in a transaction that will combine their operations across Florida, New York, Texas, and Pennsylvania. The deal includes a concurrent exchange of $175 million in debt held by The Hawthorne Collective for new shares, significantly strengthening the combined entity's balance sheet. Expected to close in late 2024, the merger aims to create a multi-state cannabis operator with an addressable market valued at $13 billion.PR NewswireRIV Capital Applauds Reports that DEA Plans to Reschedule CannabisRIV Capital Inc., a cannabis-focused acquisition and investment firm, has publicly praised reports that the U.S. Drug Enforcement Agency (DEA) proposes to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act. The company's COO and interim CEO Mike Totzke stated that rescheduling represents one of the most monumental developments in the cannabis industry, potentially removing Section 280E tax burdens, expanding institutional investment access, and enabling additional medical research. RIV Capital also noted that its Strategic Growth Committee continues working to identify opportunities to unlock shareholder value, though no binding agreement has been reached.