Colorado firm launches $50M cannabis-focused venture capital fund

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CanopyBoulder, a Colorado-based, marijuana-focused business accelerator, has created a $50 million venture capital fund that will focus on “growth stage companies” in the cannabis sector.

The subsidiary, CanopyVentures I, plans to target technology companies in the marijuana sector, the Boulder Daily Camera reported.

According to the CanopyVentures I website, the company plans to make high-risk, high-reward investments in startup companies with the expectation that 60%-80% of its investments will fail.

Parent company CanopyBoulder raised $2 million for cannabis investments in 2016 after raising $1.2 million in 2015.