Navy Capital Leads $6M Funding Round for Leading LA Cannabis Firm
September 30th, 2018
F/ELD, a Los Angeles-based cannabis extracts firm, recently closed a $6 million funding round led by Navy Capital, a cannabis-focused investment fund managed by Sean Stiefel and John Kaden. The fund opportunistically underwrites opportunities within private equities around the world when the risk-reward justifies the liquidity profile.
Veteran cannabis executes Eitan Popper, Igor Gimelshtein, and Tarik Ouass of MedReleaf, as well as Serruya Private Equity were other participants in the round.
The capital will be used to finance the company’s expansion throughout the United States, scale its operations in California, and bring more award-winning products lines to market. Led by a team with more than 30 years of combined experience, the company is primed to become a market leader in the multi-billion dollar cannabis industry by targeting mainstream recreational consumers with exceptional, award-winning products.
“We have an award-winning suite of products in a highly desirable, rapidly growing segment of the cannabis industry and we’re now empowered by an invaluable strategic cash infusion to scale our business,” said Adam Gillman, CEO of F/ELD.
The company also established a world class advisory board including Richard Kimball, former Partner at Goldman Sachs and Senior Trustee of The Brookings Institute, as well as Joshua Zad, Founder and CEO of Alfred Coffee and Alfred Tea.
These seasoned board members will join the company’s existing management team in directing the company’s short- and long-term ambitions. President Joe Andreae has 13 years of experience in the industry as the co-founder of GrowLife Inc., Vape Holdings, and the Madrone Cannabis Company. CEO Adam Gillman and CMO Bert Culha also have diverse experience in the technology sector and hospitality industry, respectively.
For more information, visit the company’s website at www.fieldisgreener.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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