Cannabis Company Coda Signature Closes $24.4 Million Series A Funding Round

Coda Signature, a cannabis-infused edibles, topicals, and concentrates maker, best known for its chocolates and truffles – included in this year’s Oscar gift bags, will be receiving a big injection of capital. The funding round was led by Granite Hall Partners, with participation of Gotham Green Partners, Mazakali, and Salveo Capital, some of the top investment firms in the cannabis space.

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Sean Doyle
Microdose Cannabis Makers KelSie Biotech Close First Tranche Of $5 Million Series A Round

The investment round, led by Salveo Capital, will support the company’s scientific research and market expansion. “KelSie is delighted to partner with Salveo and our other investors to bring effective and convenient drug and supplement delivery methods to more consumers,” said Cameron Keluche, KelSie Co-Founder. “We are committed to revolutionizing the delivery of cannabinoids and other drugs with superior bioavailability. Having experienced partners like Salveo and Arcadian is invaluable.”

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Sean Doyle
Marijuana investing, hedge funds and building a multistate MJ company: Q&A with Ascend CEO Abner Kurtin

Abner Kurtin spent almost his entire professional career in the hedge fund and investment industries before founding Salveo Capital portfolio company Ascend Wellness, a multistate cannabis company. While managing investment risk and managing companies are two different endeavors, Kurtin’s experience in the hedge fund world helped him in the cannabis realm. Barely a year old, Ascend has raised more than $100 million and does business in Massachusetts, Illinois, Michigan and Ohio.

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Sean Doyle
How the Cannabis Industry Can Adopt Standardized Quality Control Methods

As the cannabis industry continues to evolve, market pressure will increase on businesses to adopt standardized methods to improve product safety, consistency and predictability. To do this, cannabis companies should consider the business modes of consumer packaged goods companies, according to Shehzad Hoosein, executive VP of Cannabistry Labs, a Salveo Capital portfolio company.

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Sean Doyle
Flow Kana: How Sun-Grown Cannabis is Changing the Face of Sustainability

“Our hope is to bring in as many farmers and brand partners as we can into our eco-system,” said Mikey Steinmetz, CEO and co-founder of Salveo Capital portfolio company Flow Kana . “We have grown quickly and expanded our services to a network of more than 200 farms and offer a range of distribution and white label services to a variety of licensed cannabis companies who share Flow Kana’s values to provide consumers with clean, compliant, and sustainable products. We want to find as many paths to market as possible for our partner farms.”

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Sean Doyle
Chicago: The Unlikely Hub of Cannabis M&A

Crain’s pointed to Salveo Capital portfolio company Grassroots as a Chicago-based company poised to hit the U.S. marketplace with an infusion of cash. The company raised $90 million earlier this year. Grassroots will funnel the money toward its Litchfield, Ill., cultivation facility, but executives have also pointed to further aspirations.

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Sean Doyle
Tokyo Smoke's huge new cannabis store opens in Toronto

Salveo Capital portfolio company Tokyo Smoke began as part of the city’s cannabis scene in 2015 as a coffee shop owned by Alan and Lorne Gertner. Since legalization, the store’s parent company HIKU Brands, has been purchased by Canopy Growth, the country’s largest cannabis producer by market cap, and runs four licensed dispensaries in Manitoba and two cafe locations in Toronto.

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Sean Doyle
Newton Mayor Moves Forward on Ascend Mass Location

The Mayor of Newton, Ruthanne Fuller, has announced that she will be signing a provisional HCA with Ascend Mass, a wholly owned subsidiary of Salveo Capital portfolio company AWH. . The property located at 1089 Washington Street will be the third location for Ascend Mass. To date, Ascend Mass is the first and only new operator selected by the Mayor of Newton. Newton is one of the largest and most affluent suburbs in Boston.

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Sean Doyle
Investor Intelligence - MJBizDaily

“As the federal government inches toward full legalization, we are already seeing non-cannabis-focused institutional capital coming into the market as (investors) get more comfortable with the positive regulatory momentum,” Jeff Howard, managing partner at marijuana-focused private equity fund Salveo Capital, told Investor Intelligence. In just the past month, two key legislative proposals advanced through Congress that industry experts believe could pave the way for cannabis reforms within the next year. The moves are “clearly positive for early investors,” and they signal a de-risking of the industry that’s driving up deal flow “in anticipation of positive developments at the federal level.”

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Sean Doyle
CRM For The Cannabis Industry?

Street Fight's Stephanie Miles recently reviewed five CRM applications - Salveo Capital portfolio company Baker, SpringBig, WebJoint, Soros and PipelineDeals - that have been specifically built for the cannabis industry. Of the five, it seems that Baker is the only true CRM application for that type of business. It leverages loyalty programs, online ordering and connections to point of sale systems to build a CRM database specifically geared to cannabis customers that can then be brought into a company's marketing and communications campaigns.

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Sean Doyle
Lyft partners with Tokyo Smoke to offer $4.20 off rides today

To help everyone in Toronto celebrate 4/20 responsibly, Lyft and Salveo Capital portfolio company Tokyo Smoke have partnered to offer riders $4.20 off of one ride later today. “We’re thrilled to be collaborating with Tokyo Smoke as we work toward a similar goal and commitment, as well as provide Toronto residents with a responsible and reliable ride option. We’re also incredibly thankful to our drivers who help to get people celebrating in the city to and from where they need to go.” said Aaron Zifkin, Managing Director – Canada, Lyft.

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Sean Doyle
Canopy Growth and Acreage Holdings' $3.4 Billion Deal May Be Good For Industry But Bad For Startups

Jeffrey Howard, a managing partner at Salveo Capital, a cannabis-focused private equity, lauds the Canopy/Acreage deal as "massive." However, he’s not surprised by it. “The amount of investment dollars leading to Canadian legalization has now shifted to the U.S.,” he said. “It’s great for the industry even though it’s still politically unclear, obviously.” Still, the deal does indicate “confidence in the progression” toward legalization in the U.S.

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Sean Doyle
The First Cannabis Report From Headset And Nielsen Looks At Weed Vs. Alcohol Sales On Big Holidays

The paper, produced by Nielsen and its new data partner for the marijuana industry, Salveo Capital portfolio company Headset, looks at trends and predictions for 4/20, the international day of pot – kind of the Fourth of July or St. Patrick’s Day for weed. Unlike previous reports out of Headset, this one includes data from consumer insights company Nielsen. The firm, best known for putting out TV ratings and music sales information, provided numbers that uncovered a comparative view into legal cannabis and alcohol sales during consumption holidays.

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Sean Doyle
​California Cannabis Powerhouse, Harborside, is Another Public Launch on the Horizon

Salveo Capital portfolio company Harborside has been a stalwart name in the industry pushing for legalization long before it was considered a reasonable idea. Harborside is considered to be the largest California operator with over 29 licenses across the state. The stock is one of the premier cannabis companies in a very large market. They are growing at a rapid clip and they should be trading on the CSE by the end of the year, we highly suggest paying attention when they do.

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Sean Doyle