Ann Arbor, Michigan-based multi-state, vertically integrated cannabis company C3 Industries has appointed Valay Shah as chief financial officer, Benzinga has learned exclusively.
Shah will oversee C3’s corporate development, mergers & acquisitions and investor relations, while leading the company’s finance, treasury and accounting departments.
A Seasoned Strategist
Shah joins C3 with over 14 years of experience in mergers and acquisitions, strategic finance and capital markets. Throughout his career, Shah has specialized in the sourcing, execution and management of investments across several highly regulated and consumer-oriented sectors.
Prior to C3, Shah was a partner at alternative investment management firm Apollo Global Management, where he executed an array of investments into businesses like AMC Theatres AMC, Cimpress CMPR, Norwegian Cruise Line NCLH and WR Grace. Shah also played an instrumental role in the formation of Venerable Holdings, via its acquisition and carveout of Voya Financial’s closed block variable annuity business.
“C3 is entering a key new phase of growth, thus requiring seasoned, knowledgeable leaders to forge a strategic path,” said Vishal Rungta, co-founder and president of C3 Industries. “Valay has led multi-billion dollar investment funds and possesses the business acumen, drive and talent needed to bring C3 to its full potential. With his comprehensive leadership experience in private equity and a range of competitive industries, Valay will be an invaluable asset in ensuring C3’s financial success. We are thrilled to welcome him to the C3 team.”
Shah added, “After years working in a broad range of industries throughout my private equity career, I look forward to applying my expertise to one of the fastest-growing industries in the country. Having the opportunity to transition into the cannabis space with an operator as established and forward-thinking as C3 is exciting. I look forward to hitting the ground running and scaling the company to new heights with this exceptional team.”
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