12/12 Ventures, a Sausalito, Calif.-based cannabis venture capital firm, recently made investments in three companies in the cannabis vertical.
The terms of the below mentioned deals were not disclosed.
The companies include:
- Cookies Inc., a cannabis brand, which currently has 7 dispensaries in California, 1 in Detroit and expects 30+ by the end of this year.
- Cookies Retail Enterprises (CRE), a separate company from Cookies, a retail development company (think REIT) that is purpose-built to rapidly identify and secure premium retail locations for Cookies stores, in both the U.S. and internationally.
- Backbone Software, a supply chain solution provider in the cannabis industry. It enables cannabis companies to intelligently manage all aspects of supply — including cultivation, manufacturing, inventory, packaging, shipping, pricing, billing, purchasing, and logistics on a single platform.
Led by Charles Finnie, Co-Managing Partner, and Matthew Barron, Co-Managing Partner, 12/12 Ventures is a cannabis-focused venture capital firm which is raising a $100m fund.