Harborside, a California-based vertically integrated cannabis company, received an investment from Salveo Capital.
The amount of the deal – part of a Series B funding – was not disclosed.
The company intends to use the funds for expansion throughout California and improvement of its supply chain.
Founded in 2006 and led by Andrew Berman, Chief Executive Officer, Harborside is a vertically integrated California cannabis business with retail locations in Oakland and San Jose, a 47-acre farm in Monterey County, and more than 250,000 registered customers.
Its stores have a curated selection of flower, concentrates, edibles and other cannabis products from California’s growers and manufacturers.
Salveo Capital focuses on high-growth, ancillary service providers to the cannabis industry as well as businesses that cultivate and dispense the plant. The firm is currently investing capital out of its first private equity fund and is targeting a $25m close.
In addition to Harborside, Salveo has completed nine investments thus far including PathogenDx, Flow Kana, Baker, Front Range Biosciences, Headset, Purissima, Hiku (formerly Tokyo Smoke), Treez and Wurk.