Participated · Series A · Oct 2020

Nabis is a licensed wholesale marketplace platform that connects cannabis brands with California dispensaries. The company offers fulfillment, warehousing, payment processing, financing, data analytics, and sales and marketing services to help brands and retailers launch and scale. It supports over 100 brands and represents a portfolio that distributes more than $350M worth of cannabis products per year across California's dispensary network. Nabis also operates value-added services including Nabis Capital and Nabis Analytics. Founded in 2017 and based in San Francisco, Nabis plans to use the $23M Series B to grow its licensed wholesaling platform and scale those value-added services. The company previously raised a $5M Series A less than a year earlier with investors including Y Combinator and Babel Ventures. Nabis operates a business-to-business cannabis distribution platform that collects product from manufacturers, stores and tests it in secure warehouses, and delivers to retailers within a 36-hour turnaround. The company also handles payment remittance — including collecting cash at delivery and depositing it through its banking partners — and offers logistics and security features for deliveries. Nabis currently serves about 1,000 dispensaries and 200 delivery services in California, ships roughly $250M of cannabis annually in the state, and handles about 7% of California’s legal cannabis. With additional funding it plans to expand its software offering, beef up financial services to provide capital to operators, and build an online marketplace where manufacturers can sell directly to retailers. Long-term the company aims to capture 25% of California’s legal market and eventually operate nationally, though interstate regulations currently limit expansion. Nabis is an independent, tech-driven Type 11 cannabis distributor founded in 2017 that combines a software front-end with an infrastructural backend to manage distribution logistics. The company provides fulfillment, storage and sales services for wholesale cannabis products for over 40 major brands, including Canndescent, THC Design, Cresco, Beezle, Nasha and Honey Vape. Nabis operates a proprietary, cannabis-compliant software portal that automates aspects of cannabis distribution and plans to invest heavily in its software capabilities. The company intends to use new funds to expand within California and out-of-state and to scale its supply-chain operations. As part of that expansion, Nabis will build a fully renovated 10,000 sq. ft. distribution hub in Los Angeles to streamline operations and support growing Southern California demand.

Participated · Seed · Jun 2018

Finless Foods develops cell-cultured and plant-based seafood alternatives with an initial focus on bluefin tuna. The company is constructing a Bay Area pilot facility to produce its first saleable cell-cultured bluefin tuna and is pursuing regulatory approval to enable sales and consumption. It plans to nationally launch its plant-based tuna into U.S. foodservice in 2022 and to explore international distribution in Asia while expanding its plant-based seafood portfolio. The company will use new funding to expand its team, deepen technical R&D, and build business capabilities to transition from R&D to a food company. Finless also aims to drive down the price of cell-cultured bluefin tuna to reach parity with conventional tuna and to reduce pressure on wild-capture tuna stocks. The company convenes an Impact Board of ocean and sustainable seafood experts and was the first to serve cell-cultured fish in the United States. Finless Foods, founded in 2017 by biochemists Michael Selden and Bryan Wyrwas, develops real fish meat grown from stem cells. The company uses cellular-agriculture technologies to grow marine-animal cells and is initially producing bluefin tuna. It aims to create more sustainable seafood without the environmental devastation or health hazards of traditional fishing and aquatic farming. Based in San Francisco, CA, Finless Foods raised $3.5M in seed funding. The company intends to use the funds to finalize its initial R&D phase and move into production, pending the closing of a Series A.

Participated · Equity · May 2018

Forever Labs offers a proprietary service to collect, cryopreserve and store healthy mesenchymal stem cells (MSCs) for future therapeutic use. The procedure is a simple, 15-minute outpatient extraction performed by a certified physician. Collected MSCs are cryogenically frozen and stored in an FDA-compliant, clinical‑grade biorepository on a long-term basis. The company positions its offering as a way to preserve cells that can stimulate tissue repair and counter age-related diseases and aging itself. Forever Labs intends to use the new capital to continue developing its solutions and to accelerate brand development. The company recently secured $2M in funding to support those efforts.