Steinmetz, founder of Salveo Capital portfolio company Flow Kana, greets me on the grounds of the 80-acre Flow Cannabis Institute, in Redwood Valley, California, near the southernmost point of the Emerald Triangle—the legendary pot-growing region encompassing Humboldt, Trinity, and Mendocino counties—which some estimates say produces 80 percent of all the weed grown in California (and a large proportion of all pot sold in the U.S.).
Read MoreIllinois Supply and Provisions (IS&P) is officially calling the first day of legalized cannabis sales in Illinois and overwhelming success. “We are overwhelmed with the enthusiasm and energy of our first day customers. Despite the long lines, which we expected, customers were about as respectful and happy as you could want and we share in that celebration with them,” said Abner Kurtin, Founder of Salveo Capital portfolio company Ascend Wellness Holdings. “We have an incredibly hard working and knowledgeable team that makes the true difference with our customers,” added Kurtin.
Read MoreSalveo Capital portfolio company M Plant Productions’ topical Rewind took second place in the CBD topical category.
Read MoreIllinois will join the ranks of states with legalized recreational marijuana on Jan. 1 as the market for cannabis businesses in the U.S. continues to expand. As the industry has grown and public markets have become more active, it has become increasingly important for companies to differentiate themselves. “We think of hemp or cannabis as commodities, and it’s becoming even more of a commodity as time goes on,” said panelist Michael Gruber, managing partner at Salveo Capital, an investment fund focused on the legalized cannabis sector.
Read MoreThe annual cannabis investor spotlight series presented by Integrated CBD is back for the second year. The series features twelve of the leading cannabis investors, sharing their 2020 investment strategies. On today's episode the 'spotlight' is shinning on Jeffrey Howard from Salveo Capital.
Read MoreDecades before cannabis emerged as a business growth opportunity in Illinois, Michael Gruber started his career as a dot-com venture capitalist in Silicon Valley and has continued his work in Chicago for the past 20+ years. A Queens native and Kellogg graduate, Gruber is a managing partner at Chicago-based Salveo Capital, a cannabis industries-focused venture capital firm. In this Grown In: Illinois conversation, Gruber shares advice for newcomers to an industry he embraced about seven years ago.
Read MoreCannabis has been sold legally for a few years and that means there’s a growing amount of sales and other data that can be collected and analyzed to study the developing market. A new cannabis data analytics report from Salveo Capital portfolio company Headset, studied seasonality of sales by month, day, and preferred purchasing hours by generation.
Read MoreSalveo Capital portfolio company Coda Signature, maker of award-winning cannabis infused gourmet edibles, all-natural topicals and handcrafted concentrates, continues to receive industry recognition as a leader in product innovation with wins at the High Times Colorado Cannabis Cup in three categories: First Place in Topicals for its Symphony Bath Bombs; First Place in CBD Vape Pens & Cartridges for its Balance CBD Vape Cartridge; and Second Place in CBD Edibles for its 1:1 Coffee & Doughnuts chocolate bar.
Read MoreThe world’s biggest cannabis seller Curaleaf Holdings announced a 33% sequential increase in the quarter’s sales. Counting acquisitions that Curaleaf has yet to close, including Salveo Capital portfolio company Grassroots, September revenue would have been $129 million. “The U.S. market is the best cannabis market in the world,” Curaleaf chief executive Joe Lusardi told Barron’s Tuesday.
Read MoreThe world's best-selling, most in-demand cannabis varieties are coming to Illinois aficionados in the New Year through a new partnership between two leading U.S. brands: Oakland-based Cookies Enterprises, and Salveo Capital portfolio company Ascend Wellness Holdings. Just in time for adult use sales in Illinois in 2020, Ascend Illinois will grow 40 new, potent and exotic-flavored cannabis strains from the entire family of Cookies brands.
Read More“We started Purissima knowing there was a better way to craft ingredients that are currently sourced from the wild. We use our incredibly disruptive platform to produce powerful and affordable products at scale and address a global market opportunity of more than $300 billion, and growing at unprecedented rates,” said Rob Evans, co-founder of Purissima, a Salveo Capital portfolio company.
Read More“It’s a pretty high profile location. We think it’s going to be a great way to serve a lot of customers,” said Mitch Kahn, CEO of Salveo Capital portfolio company Grassroots Cannabis.
Read MoreSalveo Capital portfolio company PathogenDx has been honored with the 2019 Best Practices Award for Innovation by Frost & Sullivan. The judges reviewed molecular testing from around the globe. They considered technologies for agriculture, dairy, hospitals, cannabis and hemp and more.
Read MoreReceiving license approval clears the way for Ascend Wellness Holdings (AWH) , a Salveo Capital portfolio company, to immediately add critical capacity to the Illinois retail cannabis market which is expected to grow between 5-10 times its current size once adult use sales begin on January 1.
Read MoreCoda Signature: U.S. Market Leader Award – Infused Products
Headset: Regional Game Changer Award – U.S. Region
Front Range Biosciences: Hemp Game Changer Award
Read More“We are thrilled to bring our products to the world’s largest legal cannabis market,” explained Mark Grindeland, Co-Founder and CEO of Salveo Capital portfolio company Coda Signature, who was recognized as one of the top 10 MVPs in the industry at the 2018 Cannabis Business Awards. “We’ve been able to build momentum so quickly in the California market because of the quality of our products, sales team and distribution partner HERBL (also a Salveo Capital portfolio company).”
Read MoreThe cannabis and hemp industries have yet to be flooded with biotechnology competition, but a number of companies are making headway. Salveo Capital portfolio company Front Range Biosciences has developed a Clean Stock program, which it uses to supply young hemp plants and seeds to cultivators, helping them avoid pathogens and compromised genetic profiles. Co-Founder and CEO Dr. Jon Vaught spoke with New Cannabis Ventures about his company’s experienced team, products, partnerships and focus on sustainability.
Read MoreMilan Patel leads the strategic vision, financial health and global growth of PathogenDx, a Salveo Capital portfolio company which provides disruptive DNA-based pathogen testing technology and solutions for the cannabis, botanical, food and agricultural industries. Previously, Mr. Patel spent over 25 years working with large public, small private and entrepreneurial companies in numerous fields from the life sciences, to biotechnology, to government services and the automotive industry.
Read MoreWith the Series B funding, Salveo Capital portfolio company PathogenDx will continue expanding its breakthrough technology into food, medical, and agriculture testing while continuing to build on its leadership position with its current portfolio of domestic and international clients in the cannabis industry.
Companies like Green Thumb Industries (CNSX: GTII) are spending millions of dollars to acquire luxury brands like Beboe, and the luxury brands themselves have begun to attract the interest of deep-pocketed investors. For example, several months ago Coda Signature, a Salveo Capital portfolio company and luxury infused edibles brand, raised $24.4 million in Series A funding.
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