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Home 🌿 Marijuana Business News 🌿 Canopy Boulder steers funding to businesses behind the marijuana industry 🌿Canopy Boulder steers funding to businesses behind the marijuana industry
It’s risky, unproven and still illegal at the federal level, but a group of Boulder investors is betting on the cannabis industry.
They’ve launched Canopy Boulder, a mentorship and seed-stage investment program, and put up $1.2 million to shepherd 20 entrepreneurs into the new, fast-growing field of marijuana ancillary businesses and services.
The way they see it, the cannabis market is theirs for the taking. But because it’s new, there is no model to look to for guidance.
“When you are looking at investments, the huge focus area is on the founding team — how good are they,” said Micah Tapman, a partner in Canopy Boulder whose background is in cybersecurity. “What we found in the cannabis sector with traditional seed-stage investments is that the business maturity level of the teams was very low, very raw, untested.”
Canopy Boulder is not investing in marijuana growers, manufacturers or dispensaries. Instead,...
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