Market Overview

VividGro, a Pegasus Capital Advisors Portfolio Company, Announces Partnership with Merida Capital Partners


Partnership to Focus on Growth in Horticultural and Cannabis

, a portfolio company of private equity firm Pegasus
Capital Advisors
(Pegasus), today announced it has tapped investment
firm Merida
Capital Partners
(Merida) as its strategic partner. VividGro, a
spinout from Pegasus-funded Lighting Science Group Corporation (LSG),
offers products based on LSG's origins in developing lighting for NASA
and the International Space Station and currently focuses on
distributing controlled environment agriculture (CEA) LED lighting
solutions and services to the indoor horticultural and cannabis

The Company will initially be funded by investments from LSG and Merida
Capital. Merida Managing Partner Mitchell Baruchowitz will join the
VividGro Board and work with VividGro CEO David Friedman, former CEO of
MJIC, as well as Board Chairman and Pegasus Operating Advisor Abraham
Morris, to aggressively grow VividGro, including through acquisition of
innovative CEA technology and service providers.

VividGro CEO David Friedman commented, "With the rapid growth of indoor
cultivation in both the indoor horticultural and cannabis industries,
the need for energy efficient and ‘smart' lighting products has
multiplied. We are excited to partner with leading cannabis investor
Merida Capital, and their sophisticated portfolio of ancillary
companies, to help drive VividGro's strategy of creating a world-class
suite of CEA technologies and services."

Mitchell Baruchowitz, Managing Partner of Merida, remarked, "Merida is
humbled by the opportunity to partner with a seasoned investment firm
such as Pegasus and top technology provider, VividGro, which has a great
management team in David Friedman and Abe Morris, to execute on our
shared vision of creating a connected ecosystem of leading companies to
drive the indoor horticultural and cannabis industries forward."

Addressing the partnership with Merida, Joel Haney, a Principal at
Pegasus said: "With its focus on responsible investing and governance,
Merida is the perfect partner for Pegasus to rely on to assist VividGro
in navigating the emerging investment landscape in its core areas of

About VividGro

VividGro is a pioneer in the AgTech space. Tailored to the automation
and efficiency needs of the indoor agriculture and horticultural
markets, VividGro implements solutions that help growers maximize yields
and reduce costs. Our state-of-the-art VividGro lighting product line
delivers optimized PAR to maximize plant growth and PAR efficacy.
VividGro distinguishes itself from its industry peers by helping growers
learn how to use their resources more efficiently. It is not the lights
you use it is how you use them. Learn more about VividGro at and
join us on social media at Facebook, Twitter, and Instagram.

About Merida Capital Partners

Merida Capital Partners is a private equity fund targeting fundamental
growth drivers which accelerate the rapid development of the cannabis
industry. Our motto is Responsible Investing in the Emerging Cannabis
. For more information, please visit
or follow us on Twitter @meridacap.

About Pegasus Capital Advisors, L.P.

Pegasus Capital Advisors, L.P. is a private equity firm founded and led
by Craig Cogut. Since inception in 1996, Pegasus has invested across
five private equity funds and currently manages approximately $1.9
billion in assets. The Firm invests in companies within the
sustainability and wellness sectors that are seeking strategic growth

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