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Events / Business / Vireo Growth, Ace Venture NY Partnership
Business strategic partnership

Vireo Growth, Ace Venture NY Partnership

Analysis based on 7 articles · First reported Apr 03, 2026 · Last updated Apr 04, 2026

Sentiment
60
Attention
3
Articles
7
Market Impact
General
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Market Impact

The market for cannabis in United States — New York (state) is expected to see increased competition and a shift towards social equity-focused operations. Vireo Growth Inc. and Ace Venture of NY, LLC are positioned to benefit from this strategic alignment with regulatory priorities, potentially leading to long-term growth and positive investor sentiment for both entities.

Cannabis industry
Event Summary

Vireo Growth Inc. announced a strategic partnership with Ace Venture of NY, LLC, a New York-based Minority & Women-Owned Business Enterprise led by Steven Acevedo. Under the agreement, Ace Venture of NY, LLC will assume a 51% ownership interest in Vireo Health of New York, LLC, making it New York's first scaled social equity operator emerging from the state's first minority-owned vertically integrated medical cannabis license. This partnership reflects Vireo Growth Inc.'s commitment to advancing United States — New York (state)'s vision for an inclusive cannabis industry. John Mazarakis, CEO of Vireo Growth Inc., and Steven Acevedo will serve on the board of managers of Vireo Health of New York, LLC. The collaboration aims to combine local leadership with Vireo Growth Inc.'s operational expertise to create a durable enterprise aligned with regulatory priorities and long-term growth in the cannabis sector.

Entities Involved
priv
Ace Venture of NY, LLC
Ace Venture of NY, LLC, a Minority & Women-Owned Business Enterprise, acquired a 51% ownership interest in Vireo Health of New York, LLC, becoming the majority social equity-owned platform. This establishes Ace Venture of NY, LLC as a key player in New York's cannabis industry.
Importance 90.0 Sentiment 70.0
priv
Vireo Growth Inc.
Vireo Growth Inc. entered into a strategic partnership with Ace Venture of NY, LLC, transferring 51% ownership of its subsidiary Vireo Health of New York, LLC to Ace Venture of NY, LLC. This partnership aims to align with New York's social equity framework in the cannabis industry.
Importance 90.0 Sentiment 50.0
per
Steven Acevedo
Steven Acevedo, founder of Ace Venture of NY, LLC, led the partnership and will serve on the board of managers of Vireo Health of New York, LLC, playing a crucial role in advancing social equity in New York's cannabis industry.
Importance 85.0 Sentiment 60.0
priv
Vireo Health of New York, LLC
Vireo Health of New York, LLC is the subsidiary whose majority ownership (51%) was transferred to Ace Venture of NY, LLC, making it New York's first scaled social equity operator in the medical cannabis sector.
Importance 80.0 Sentiment 60.0
per
John Mazarakis
John Mazarakis, CEO of Vireo Growth Inc., developed the partnership and will serve on the board of managers of Vireo Health of New York, LLC, ensuring continued operational support and regulatory compliance.
Importance 75.0 Sentiment 50.0
per
Crystal D. Peoples-Stokes
Assembly Majority Leader Crystal D. Peoples-Stokes is acknowledged for her advocacy on behalf of communities in United States — New York (state) affected by past drug policies.
Importance 15.0 Sentiment 10.0
per
Liz Krueger
Senator Liz Krueger is recognized for her foundational work in shaping legislation that made this partnership possible in United States — New York (state).
Importance 15.0 Sentiment 10.0
stock
Chicago Atlantic Real Estate Finance
Chicago Atlantic Real Estate Finance is mentioned as a company where John Mazarakis previously worked, and for its consistent demonstration of thoughtful capital stewardship in the cannabis industry.
Importance 10.0 Sentiment 20.0
per
Kathy Hochul
Importance 0.0 Sentiment 0.0
loc
United States — New York (state)
Importance 0.0 Sentiment 0.0
Relationships
Vireo Growth Inc. related ↔ John Mazarakis
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