Front Range Biosciences (FRB), the agricultural biotechnology company for high value crops, announced today that it raised $1.5 million in funding.
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Salveo Capital is a private equity fund dedicated to supporting high growth businesses supporting the legal cannabis ecosystem, with a focus on companies across a few sectors: information, data & analytics; financial payments & services; medical products, formulations & delivery; ag-tech & grow systems; and business services.
Salveo has completed investments in Headset and Front Range Biosciences. Headset is a Washington state located firm providing key actionable analytics to manufacturers and retailers within the cannabis industry. Front Range is a biotechnology providing a cost effective method to produce disease-free clones.
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Headset, Inc., a leading retail analytics firm for cannabis-related businesses, announced today it has closed $2.5 million in financing as it ramps up its sophisticated suite of data products.
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For some funders, marijuana is not just about sewing their wild oats. Rather, they see the business potential of being early to what’s expected to be a highly profitable and long-lasting party.
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“A lot of new initiatives are coming on. Before, we didn’t have states that were adding laws and awarding licenses, so there was a bit of a lag in the market that has started to change in about the last year,” explained Thiersch. “Now it is humming on all cylinders and we are seeing a ton of movement. There will be a lot of opportunity in the next one to two years especially if some of the big East Coast cities that are huge markets open up."
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The fund’s primary investment space will be in early stage ancillary businesses that enable the legal cannabis industry and that are not subject to state regulations. Key investment areas will include financial, payment, and banking businesses, grow systems, agriculture and operations, software, digital and IOT, genetics, chemistry, and business services.
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Though legal in many states across the country, at the federal level cannabis is still regulated in Schedule I of the Controlled Substances Act. Current cannabis businesses operating within the bounds of state laws are still subject to many challenges stemming from the federal classification of the plant. In recent months, however, the DEA has revealed that it is re-examining the current scheduling of cannabis.
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Ready or not, with its legalization in several states and those old-school taboos surrounding weed being febrezed away, a massive dollar sign hangs above Marijuana industry as its potential growth projections outpace the smartphone industry.
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Up to this point financing of legal cannabis in the U.S. has relied largely on private money - friends and family raises, high net-worth individuals, and small to medium sized private investment firms.
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Across multiple sports athletes have stated that cannabis could be a superior treatment for sports-related injuries, without the drawbacks of current opioid pain medications.
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Yes, full personal use legalization would by definition give access to the widest range of patients, but it’s a reality that a large chunk of voters and legislators do not support fully legal cannabis. Step by step legalization, prioritizing medical access, has worked across the country at alleviating the suffering of countless people while also providing much needed education for skeptics. It’s important to push for what can pass, and then work from within that system to make people comfortable with more.
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Of course the big news federally is this year's Presidential election, and virtually every serious candidate now at the very least supports the continuation of allowing states to make their own cannabis laws. This, of course, reflects the huge popularity of medical cannabis among the population at large and in swing states in particular.
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As more and more states move toward legalizing marijuana, investors are exploring how to capitalize on the increasing growth of the industry. But there's still one thing giving some capitalists pause: branding.
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