Vireo Growth Partners with Ace Ventures for New York's First Minority-Owned Dispensary

The new dispensary will be the first of its kind in the state, aiming to increase access and representation in the cannabis industry.

Apr. 4, 2026 at 3:27am

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A photorealistic studio still-life photograph featuring a sleek, modern glass display case filled with various premium cannabis products and accessories, all arranged elegantly on a clean, monochromatic background with dramatic lighting and shadows, conceptually representing the intersection of corporate strategy, finance, and the cannabis industry.A new minority-owned cannabis dispensary in New York City aims to increase access and representation in the rapidly growing industry.Minneapolis Today

Vireo Growth Inc., a leading cannabis company, has announced a partnership with Ace Ventures to establish New York's first minority-owned cannabis dispensary. The new dispensary, which will be located in New York City, is part of Vireo's ongoing efforts to increase diversity and representation in the rapidly growing cannabis industry.

Why it matters

The opening of this dispensary represents an important milestone in the push for greater inclusion and equity in the cannabis sector. Minority-owned businesses have historically faced significant barriers to entry, and this partnership aims to address that imbalance by providing opportunities for underrepresented groups to participate in the burgeoning cannabis market.

The details

Under the terms of the agreement, Vireo Growth Inc. will provide the necessary capital, operational expertise, and licensing support to Ace Ventures, a minority-owned investment firm, to open and manage the new dispensary. The dispensary will offer a curated selection of Vireo's high-quality cannabis products, as well as products from other leading brands, catering to the diverse needs and preferences of the local community.

  • Vireo Growth Inc. and Ace Ventures announced the partnership on April 3, 2026.
  • The new dispensary is expected to open its doors to the public in the third quarter of 2026.

The players

Vireo Growth Inc.

A leading cannabis company that operates in multiple states and is committed to increasing diversity and representation in the industry.

Ace Ventures

A minority-owned investment firm that will partner with Vireo Growth Inc. to establish New York's first minority-owned cannabis dispensary.

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What they’re saying

“We are thrilled to partner with Ace Ventures to open New York's first minority-owned cannabis dispensary. This is an important step in our ongoing efforts to create a more inclusive and equitable industry.”

— Kyle Kingsley, CEO, Vireo Growth Inc.

“This partnership with Vireo Growth represents a significant opportunity for us to make a meaningful impact in the cannabis industry and provide greater access and representation for minority communities in New York.”

— Jamal Akbar, Managing Partner, Ace Ventures

What’s next

The new dispensary is expected to open in the third quarter of 2026, pending the necessary regulatory approvals and licensing requirements.

The takeaway

This partnership between Vireo Growth Inc. and Ace Ventures is a positive step towards increasing diversity and representation in the rapidly growing cannabis industry, which has historically been dominated by larger, non-minority-owned businesses. The opening of New York's first minority-owned dispensary will provide greater access and opportunities for underrepresented communities to participate in the cannabis market.