Navy Capital leads $6 million funding round for Los Angeles cannabis firm

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Los Angeles-based marijuana extracts firm Field is poised to expand into new markets after closing a $6 million funding round.

The raise was led by:

  • Cannabis investment fund Navy Capital under managing partners Sean Stiefel and John Kaden.
  • MedReleaf executives Eitan PopperIgor Gimelshtein and Tarik Ouass, who earlier this year sold the company to Aurora Cannabis for 3.2 billion Canadian dollars ($2.5 billion).
  • Serruya Private Equity, a private equity holder in Liberty Health Sciences and Canadian cannabis firm Aphria. 

Field also announced it has formed an advisory board that includes Richard Kimball, former partner at Goldman Sachs and senior trustee at The Brookings Institution, as well as Joshua Zad, founder and CEO of Alfred Coffee and Alfred Tea.

Field says it will use the new capital to finance expansion throughout the U.S. and to scale operations in California.