Sales, Funding & Banking News

Finance: Sales, Funding & Banking News

Cannabis online platform raises $10 million

LeafLink, an online inventory and ordering platform for marijuana businesses, has raised $10 million in Series A funding. The round was led by Nosara Capital, a London-based venture capital firm, according to a LeafLink news release. Nosara was joined by previous LeafLink investors from both inside and outside the cannabis space, such as Lerer Hippeau Ventures, […]

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CA treasurer pushes state-run bank for cannabis businesses

California’s state treasurer isn’t waiting on the federal government to solve marijuana businesses’ banking problem. Treasurer John Chiang and members of a working group he formed are calling on California officials to create a state-government-run bank to serve marijuana companies, the Los Angeles Times reported. The recommendation by Chiang’s group bolsters a growing movement that wants cities and states […]

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Poseidon aims to raise up to $150M for new cannabis fund

Poseidon Asset Management – a San Francisco-based investment company focused on the cannabis industry – has launched a second fund with the goal of raising $100 million to $150 million from investors. If Poseidon achieves that goal, the investment fund would be one of the largest in the marijuana industry. The company did not detail […]

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Public banks offer hope for marijuana businesses, but will they arrive in time?

By Omar Sacirbey With most private institutions and credit unions still avoiding the legal cannabis industry, many marijuana businesses remain without bank accounts. But one idea is gaining acceptance among MJ entrepreneurs and a growing number of cities and states: the formation of public banks to serve the cannabis industry.

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MedMen seeks $250 million raise for marijuana private equity fund

Marijuana management firm MedMen is aiming to raise $250 million to invest in cannabis businesses in the California, Nevada and New York markets. The fund, called MedMen Opportunity Fund II, is going to specifcially target plant-touching companies, including retailers and growers, Bloomberg reported. The fund will also look particularly at tourist destinations, including Los Angeles, […]

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Report: Cannabis industry capital raises reach $1.8B in 2017

Capital raises in the global cannabis industry have reached a staggering $1.8 billion in the first three quarters of 2017, up from $720 million a year ago, according to Viridian Capital Advisors’ Cannabis Deal Tracker. The raises are a compilation of deals brokered by 164 public companies and 105 private ones, with an average raise […]

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Ancillary cannabis business inks $2 million equity deal

Indoor Harvest Corp. (OTCQB: INQD), a Houston-based manufacturer of commercial aeroponic systems that can be used to grow cannabis, signed an investment deal with Tangiers Global for an equity investment of up to $2 million. Tangiers Global is located in San Diego and provides funding to small and microcap public companies. In addition to the investment agreement, Tangiers provided Indoor […]

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PA medical marijuana cultivation license on the market for $20M

Pennsylvania’s medical marijuana program isn’t even operational and cultivation licenses already are being shopped around. The Philadelphia Inquirer obtained a confidential prospectus that includes an offer to sell 100% of Franklin Labs – one of 12 MMJ cultivation license winners – for $20 million. The newspaper confirmed with the company’s CEO that the license is for […]

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G FarmaBrands to distribute Julian Marley’s JuJu Royal in SoCal

G FarmaBrands is partnering with Julian Marley, son of the late legendary reggae musician Bob Marley, to distribute his cannabis brand JuJu Royal to recreational shops and medical marijuana dispensaries in Southern California under the state’s newly regulated MJ market. According to a news release, California-based G FarmaBrands – through its subsidiary Finka Distribution – distributes to […]

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Toronto marijuana software startup lands $2 million

Canadian seed-to-sale software company Trellis has raised $2 million in a funding round led by Case Verde Capital, the marijuana-focused venture capital firm run by a team that includes rapper Snoop Dogg. The Toronto-based software provider, which launched in 2014 and now has customers in California and Canada, said in a news release that it […]

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