Top 10 Cannabis Capital Raises and Investors in the U.S. – August 1st – 31st
Several interesting transactions closed in the Cannabis sector over the past month. If you would like more info on these deals or would like to discuss the capital raising market for your company, please contact me.
PIPE
- Avicanna, a biopharmaceutical company that advances and commercializes cannabinoid-based products for medical and pharmaceutical markets, received CAD 500,000 of development capital from Mr. Michael Porter through a private placement.
- Neurothera Labs, a clinical-stage pharmaceutical company that advances cannabinoid-based therapies for neurological and neuropsychiatric conditions, received CAD 5.4 million of development capital from SciSparc through a private placement.
Buyout/LBO
- Sriven Labs, a cannabis and hemp testing services provider that supports regulatory compliance and consumer safety, acquired by ACT LAB via its financial sponsor Claret Capital Partners through an LBO.
- TPK Ceramics, a ceramic vaporization hardware manufacturer that produces zirconia-based devices for high-viscosity oils, acquired by AE Global via its financial sponsor Fanjul Capital through an LBO.
Merger/Acquisition
- ACS Laboratory, a laboratory testing services provider that conducts compliance and safety testing for botanical products, acquired by The Smithers Group.
- C21 Investments, a vertically integrated cannabis company that cultivates, processes, distributes and sells cannabis and hemp-derived consumer products, acquired by Vireo Growth.
Later Stage VC
- Andira Pharmaceuticals, a biopharmaceutical company that commercializes cannabinoid treatments and healthcare products for infectious and oncological diseases, raised $252,390 of venture funding through a combination of equity and debt.
- DreamFields Brands, a cannabis and lifestyle brand platform that manufactures, markets and distributes legal adult-use cannabis products, raised venture funding from Key Investment Partners.
Early Stage VC
- The Garden Club, a licensed cannabis retail and dispensary network that sells regulated adult-use and medicinal cannabis products, raised venture funding from Key Investment Partners.
Seed Round
- Blom, a cannabis products company that uses data-driven cultivation and controlled environments to produce consistent cannabis products, raised $710,000 of seed funding.
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Raheem Suleman
Managing Director
Over two decades of experience in capital markets across capital raising, FX, futures, and stocks. Expertise in both business and technical aspects of trading and relationship management. Valuable insights into Asian and Middle Eastern capital markets. Broad understanding of the financial markets, and the insurance and reinsurance sectors. Extensive experience in the hospitality industry, managing multiple properties with responsibilities ranging from capital raising to daily operations. Completed the executive education program in private equity at the Wharton School. B.S. in Economics and Finance from the University of Waterloo. FINRA Series 7 and 63 licensed.
- Email: rsuleman@castleplacement.com
- (C) (646) 852-8007
Raheem Suleman
Managing Director
Please contact me if you have any questions or would like to discuss your capital raise:
Email: rsuleman@castleplacement.com
(C) (646) 852-8007
Send us a message:
Sources: Information on this page was derived from a variety of sources including Bloomberg, Company Websites, Crunchbase, PitchBook and other news outlets. Castle Placement® does not warrant or guarantee this information, nor makes any representations as to the accuracy of the information. For more Risks, see CPGO Risks and Disclaimers.
