Firm Launches $25M Cannabis Fund

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Canna Group, which provides consulting services to the marijuana industry, has launched a $25 million private equity fund that will invest in ancillary businesses that aren’t subject to state regulations.

The fund, called Sugar Leaf, will focus on businesses that specialize in financing, payments and banking, grow systems, agriculture and operations, software, digital and internet, chemistry, science and genetics and business services, according to a press release.

Sugar Leaf will have offices in California and in Chicago.

Canna Group itself also announced that it has closed a round of equity financing. The firm did not disclose the amount of financing but said the money would be used for “expansion, opportunistic investments and working capital.”

An executive with the company said in an email that the amount raised was enough so that it “may never have to raise equity funds for Canna Group again.”