APVC is a structured credit origination and capital placement platform focused on underserved cannabis operators.
One Origination Engine. Three Capital Strategies.
APVC is a vertically integrated cannabis capital platform spanning origination, structured credit, refinancing, and equity investment across regulated U.S. markets.
- Fund I: Structured Credit (Core Lending)
- Tecumseh Fund I: Refinancing & Credit Optimization
- Fund II: Structured Equity & Growth Capital
- APVC ISO Platform — Origination, structuring, and placement of financing solutions across the U.S. cannabis market.
APVC Fund Platform | Structured Credit for the U.S. Cannabis Lower Middle Market
Asset-Backed and Revenue-Based Financing for Underserved Cannabis Operators
Strategy Overview:
APVC Fund I
APVC Fund I — Structured Credit / Core Lending Fund
Classification: Senior Structured Credit / Asset-Backed Lending Fund
Function:
- Direct lending to cannabis operators
- Asset-backed and revenue-based financing
- Primary originations within core mandate
Risk Profile: Medium
Return Profile: 14–19% (or 15–20%)
Role in Platform: Core balance-sheet deployment engine
targets $750K–$2M debt financings for established cannabis operators generating approximately $750K–$10M in annual revenue with at least 6 months of revenue.
Typical Investment Parameters
- Financing Size: $750K–$10M
- Target Borrowers: Cannabis operators with $750K–$10M in annual revenue
- Investment Duration: 18–24 months
- Structures: Asset-backed and revenue-based financings
- Target Economics: % annualized yield, plus potential equity participation (kickers)
- Where borrowers fall outside our core mandate, we access a nationwide network of institutional lenders and capital partners capable of supporting transactions from $1MM to $100MM+, subject to structure, collateral, and credit profile.
TECUMSEH Fund I
Typical Investment
Tecumseh Fund I is designed to refinance established cannabis operators burdened by high-cost capital, while selectively providing structured credit solutions where traditional cannabis lenders are unable or unwilling to participate.
Fund investment into cannabis operators generating $2M–$5M in revenue, structured for repayment over ~24 to 36 months with potential equity participation.
Tecumseh Fund I — Refinancing & Opportunistic Credit Fund
Classification: Asset-Backed Refinancing & Credit Optimization Fund
Function:
- Refinance high-cost or legacy debt
- Replace hard-money / expensive capital
- Structured credit for established operators outside APVC program box
Risk Profile: Low-to-Medium (credit-focused, but broader sourcing)
Return Profile: 14–19%
Role in Platform: Capital efficiency + refinancing + pipeline expansion
Investment Parameters
- Investment Size: $750K–$10M
- Revenue: $750K–$10M
- Duration: 24–36 months
- Structure: Asset-backed and revenue-based financing
- Target Return Profile: 14–19% annualized cash yield, plus potential equity participation
Not Eligible Under This Strategy
- Pre-revenue companies
- Transactions under $750K
- Equity-only financing transactions
- No clear path to repayment
APVC Fund II
APVC Fund II is a growth-oriented equity investment vehicle focused on established U.S. cannabis operators with scalable businesses and clear value-creation potential. The Fund invests in equity and structured equity instruments, including preferred equity, convertible securities, and strategic minority positions.
Leveraging APVC’s origination and underwriting platform, Fund II targets long-term capital appreciation through operational growth, expansion, and strategic transactions.
APVC Fund II — Structured Equity / Growth Capital Fund
Classification: Private Equity / Structured Equity Growth Fund
Function:
- Preferred equity, common equity, convertibles
- Expansion capital, acquisitions, scale-up financing
- Value creation through operational growth
Risk Profile: Higher
Return Profile: 20–30%+ IRR
Role in Platform: Upside/capital appreciation engine
Target Net MOIC: 2.5x–3.5x
Investment Size: $750K–$10M
Target Borrowers: Established cannabis operators with $750K–$10M in annual revenue
Duration: 36–60 months
Structure: Asset-backed and revenue-based financing
APVC | Origination & Capital Placement Platform
APVC also operates as an independent sponsor and ISO (introducing & structuring originator) focused on sourcing, structuring, and coordinating financing solutions for established U.S. cannabis operators.
Through a nationwide network of institutional lenders and capital partners, APVC originates transactions across a broad range of credit profiles and capital needs, including asset-backed, revenue-based, and structured financing solutions.
Where borrowers fall outside standard program parameters, APVC leverages its capital partner network to support transactions ranging from $1MM to $100MM+, subject to structure, collateral, and credit profile.
APVC’s role is to originate opportunities, structure transactions, and align borrowers with appropriate capital sources across the regulated cannabis lending ecosystem.
APVC Operates Where Institutional Capital Doesn't
Most lenders avoid smaller cannabis businesses due to:
Regulatory complexity
Lack of scale
Operational inconsistency
We operate in that gap—providing capital where:
Banks won’t lend
Private credit won’t engage
Equity is to expensive
