Tuatara Capital, a New York-based canna-centric investment private equity fund, has invested $3.3 million in marijuana extracts company Green Dot Labs.
Boulder, Colorado-based Green Dot Labs initially had sought to raise $2.6 million in its Series A round, but Tuatara supplied all of the funding – and then some – a spokeswoman for the extracts company told Marijuana Business Daily.
According to a news release, Green Dot Labs is developing its own methods for indoor cultivation and extraction as well as products for Colorado’s growing edibles and concentrates market.
Tuatara also will provide a strategic adviser to Green Dot Labs, which is building a new extraction facility that’s expected to come online in October, the release said.
Tuatara, an aggressive investor in the cannabis sector, manages over $107 million in cannabis-related assets.
In May, for example, Tuatara led a $12.3 million Series B funding for Teewinot, a Florida company that develops synthetic, cannabinoid-based medical therapies.