A New York-based private investment firm dedicated to propelling the growth of innovative cannabis enterprises. Our commitment is to support visionary founders, responsible businesses and diverse management teams that are shaping the industry’s future.

An ARC Group Company

Respect and understanding of the specific challenges and opportunities for cannabis entrepreneurs defines Luminous Capital. Our firm is led by former cannabis operators with direct experience in building and scaling company operations complemented by backgrounds in banking, private equity, and capital markets.

We work with our partners to enhance growth with a focus on strategic guidance, comprehensive risk understanding, and value-added investing. Our approach provides capital access, a refined industry network, and informed financial insights based on nearly 30 years of collective cannabis-specific operational and financial expertise.

"Large amounts of money aren’t made by buying what everybody likes. They’re made by buying what everybody underestimates.”

- Howard Marks

  • John Darwin

    Managing Partner

    Mr. Darwin is a Co-Founder and Managing Partner of Luminous Capital where he identifies investments, guides debt and equity investment strategy, and manages portfolio companies. Previously, Mr. Darwin was Co-Founder and President of OCG, Inc. (ONE Cannabis), a US-based cannabis dispensary franchisor. While at OCG, Inc., Mr. Darwin grew the business from inception to vertically integrated operations with large scale cultivation and branding strategies across multiple states exiting through an eventual sale. Prior to OCG, Inc., Mr. Darwin was VP of Finance for American Cannabis Partners, a venture capital firm focused on the legal cannabis industry.

    Prior to the cannabis industry, Mr. Darwin had over ten years of experience in various roles in private equity and corporate finance.

    Mr. Darwin received his BBA in Finance from Southern Methodist University Cox School of Business.

  • Joshua Mann

    Managing Partner

    Mr. Mann is a Co-Founder and Managing Partner of Luminous Capital where he guides investment execution and manages portfolio companies. Previously, Mr. Mann served as interim CEO of INDVR Brands, a Colorado-based company focused on brand creation and distribution, leading their restructuring and multi-state transaction efforts. Prior to INDVR, Mr. Mann was VP of Business Development of Blackbird Energy (TSX-V: BBI), assisting in a $650 million sale to Pipestone Energy Corp.

    Prior to the cannabis industry, Mr. Mann had over thirteen years of structured finance and investment banking experience at Wildhorse Capital Partners and Stifel Nicolaus Weisel.

    Mr. Mann received his BA in Economics from the University of Calgary.

  • Mac McDonald

    Vice President and Partner

    Mr. McDonald is a Vice President and Partner of Luminous Capital where his primary focuses are identifying, assessing and executing new investment opportunities as well as monitoring existing portfolio investments. Previously, Mr. McDonald was in investment banking at J.P. Morgan and Cowen; having focused on helping to structure and raise over $5 billion in equity, derivative, and debt financings including multiple transactions for the first US-listed cannabis companies.

    More recently, Mr. McDonald worked in restructuring and M&A for both US-based and international cannabis operators at an emerging merchant bank.

    Mr. McDonald received his BBA in Finance from Southern Methodist University Cox School of Business.

  • Max Mosbacher

    Senior Investment Analyst

    Mr. Mosbacher is a Senior Investment Analyst of Luminous Capital, where his primary focuses are new investment opportunities, due diligence, and value creation at current portfolio companies. Previously, Mr. Mosbacher worked at Truist Securities as an Analyst in the Consumer and Retail investment banking group.

    Mr. Mosbacher received his BS in Business Administration from Miami University Farmer School of Business, where he received a presidential scholarship and graduated Cum Laude.

Contact Us

10 East 53rd Street, Suite 3001

New York, NY 10011