L2 Ventures

L2 Ventures (L2V) is a New York City-based investment firm founded in 2019 by Mattocks Swenson, focused exclusively on growth-stage investments in the cannabis industry and adjacent sectors. The firm operates with a lean team of four including one partner, taking a concentrated approach to an emerging asset class that most institutional investors have historically avoided. L2V invests at Series A through late-stage growth, with check sizes in the $3 million to $10 million-plus range. The firm leads rounds and has made approximately 14 investments across cannabis technology platforms, marketplace businesses, B2B software, consumer goods, and agribusiness. The most notable deal was co-leading LeafLink's $100 million Series D financing in February 2023 alongside CPMG and Nosara Capital. LeafLink is the leading cannabis wholesale marketplace technology platform in North America. Other named portfolio companies include Vangst (cannabis industry staffing), Jane Technologies (cannabis marketplace), and Stillwater Brands (cannabis-infused consumer products). The portfolio also includes BuildOps, a field service management platform and unicorn. One exit has been recorded: Blockfolio, a cryptocurrency portfolio tracker that was acquired by FTX in August 2020. L2V's thesis is that the regulated cannabis industry creates durable, capital-efficient business models for companies building the infrastructure and software layer — logistics, payments, compliance, staffing, and marketplace technology — that the sector requires to professionalize. The firm's specialist position in this niche gives it proprietary deal access and expertise in navigating the complex regulatory environment that surrounds cannabis-adjacent investment.