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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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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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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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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TILT Deepens California Cannabis Market Penetration with Delivery Expansion
Salveo Capital portfolio company TILT Holdings, a leading provider of products and services to other businesses operating in the cannabis industry, announced the expansion of Blackbird’s delivery and supply chain services in the greater Los Angeles area covering an addressable population of more than 18 million people and thousands of businesses.
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Four Salveo Capital Portfolio Companies Make High Times 100 Most Influential Figures in Cannabis
The High Times 100 celebrates the 100 most influential people in the cannabis world. From entrepreneurs and activists to entertainers and cultivators, the women and men on this illustrious list are shaping the current cannabis industry.
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Flow Kana Announces New Product Line, The Flow Kana Limited Edition, to Showcase Micro-Batch Craft Cannabis Flower
Flow Kana, a Salveo Capital portfolio company and California’s number one selling cannabis flower brand, announced the debut of Flow Kana Limited Edition - an ongoing series of micro-batch, sungrown top-shelf, special releases highlighting select farms & cultivars in limited quantities.
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Front Range Biosciences Announces International Partnership with the Centre for Research in Agricultural Genomics
Salveo Capital portfolio company Front Range Biosciences (FRB) announced its entry into a partnership with the Barcelona-based Centre for Research in Agricultural Genomics (CRAG). The breeding partnership will allow for FRB to leverage CRAG's world-class research facilities to advance its marker-assisted breeding platform in the development of new cannabis plant varieties, and make improvements in hemp cultivation methodology.
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Chicago cannabis company Grassroots raises $90 million
Salveo Capital portfolio company Grassroots raised $90 million, more than double the amount it initially sought late last year. It’s one of several Illinois companies that have scrambled to raise cash in the past year amid a massive land grab in the cannabis business.
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Nielsen, Headset, Deloitte Form Strategic Alliance To Provide Cannabis Data
Salveo Capital portfolio company Headset has formed an alliance with Deloitte and Nielsen to provide insights about the U.S. marijuana market to consumer packaged goods (CPG) businesses. Deloitte is one of the top accounting firms while Nielsen was named the No. 1 market research firm by the American Marketing Association last year.
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Another Chicago weed company acquired—this time, for $850 million
Verano Holdings is the second major acquisition of a Chicago-area cannabis company in recent months. “There’s a huge land grab, and people are racing to bulk up,” said Michael Gruber, managing partner at Salveo Capital. “People are trying to get a big enough footprint in the belief some of the legislation happens and provides them an incredible position.”
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PathogenDx Launches New Brand and Microbial Testing Products For Expanding Market
Salveo Capital portfolio company PathogenDx announced a new corporate brand identity, logo and product portfolio. These changes come at a time when the company is extending its platform with new products and evolving from its Cannabis only focus to new industries.
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Ascend Wellness Raises $55 Million for Expanding Cannabis Operations
Salveo Capital portfolio company, Ascend, secures $55 million to support expansion into Ohio. Ohio will be the fourth state on the East Coast that the vertically integrated cannabis operator has entered.
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In fast-moving cannabis investing, family offices hit obstacles
Family offices are “not equipped to deal with this new deal flow, and the intricacies involved with the cannabis industry, based on their current team structures,” said Michael Gruber, managing partner at Salveo Capital, a cannabis investment firm that has worked with FOs on various deals.
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California's Largest Sun-Grown Cannabis Company Raises Record-Breaking $125 Million Financing Round
Amid the marijuana industry’s already massive first quarter of M&A and capital infusion activity this year, a new record has already been set. Salveo Capital portfolio company, Flow Kana, announced the completion of a $125 million round of financing — the largest private funding round of a cannabis company executed in the United States to date.
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Wurk Secures $11 Million in Funding to Facilitate Further Expansion and Support the Growing Cannabis Workforce
Salveo Capital portfolio company and leading cannabis Human Capital Management company, Wurk, closes $11 million in a funding round. The company plans to utilize this capital to bring in-demand technology and services to the market while investing in customer experience.
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Harborside Progresses Towards Trading as a Public Company
Salveo Capital portfolio company, Harborside, and Lineage Grow Company Ltd. announce definitive merger agreement on Reverse Takeover.
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Investing Ideas for Extraction and Vape
Michael Gruber, a managing partner at Salveo Capital, provides input on the continued oil extraction interest from institutional investors looking to back companies before they go public or get sold to conglomerates. Salveo already has several investments in companies involved in non-smoking consumption of cannabis, with exposure to topical lotions, vape pens and cartridges, lozenges and other items.
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The top VC deals & investors in cannabis in 2018
Salveo Capital and three portfolio company deals were mentioned in Pitchbook’s “The top VC deals & investors in cannabis in 2018”.
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Boston Grants Ascend Massachusetts Approval to Open the First Adult-Use Cannabis Retail Store
Salveo Capital portfolio company, Ascend, announced today that it was awarded the first conditional-use permit for adult-use cannabis retail sales in the city of Boston. The flagship store will be the first adult-use retailer to operate within a major East Coast metropolitan city.
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