Participated · Equity · Sep 2021

Hound Labs develops a patented, ultra-sensitive portable breath-testing technology whose first commercial product is the HOUND® Marijuana Breathalyzer that measures THC in breath to identify recent cannabis use. The device targets THC in breath, where the molecule remains for only a few hours, allowing employers and law enforcement to distinguish recent use from earlier consumption detected by urine, hair, or oral-fluid tests. The company says its technology better aligns detection windows with impairment and can be used on-site for rapid screening. Hound Labs is preparing to scale production and is negotiating multi‑million‑dollar contracts ahead of a planned commercial launch in 1Q22. Company leadership has highlighted future applications of the platform, including detecting pathogens such as SARS‑CoV‑2 or disease biomarkers by changing the targeted compound. The company was founded in 2014 and is headquartered in Oakland, Calif. Hound Labs is a breath-technology company that has developed ultra-sensitive technology for non-invasive breath measurement. Using that technology, the Hound® marijuana breathalyzer rapidly, accurately and inexpensively measures recent marijuana use and alcohol in breath. The breathalyzer is intended for law enforcement, employer and insurance purposes. The company was founded in 2014 by Dr. Mike Lynn, who serves as CEO and co-founder, and is based in Oakland, CA. Hound Labs closed a $30M Series D financing to accelerate manufacturing and commercial availability. The round was led by Intrinsic Capital Partners and included participation from NFP Ventures, Main Street Advisors, Icon Ventures and Benchmark. Hound Labs develops a patent-pending marijuana breathalyzer that measures recent THC in breath to indicate current impairment. The device achieves parts‑per‑trillion sensitivity for THC molecules, unlike alcohol breathalyzers that detect alcohol at parts‑per‑thousand. Led by CEO Dr. Mike Lynn, the company positions the breathalyzer as an essential tool for law enforcement and employers. Hound Labs raised $8.1M in venture capital from Benchmark and will use the funds to support clinical trials, field studies and a move toward manufacturing. The first clinical trials began at San Francisco General Hospital under Kara Lynch, PhD, and the company plans additional field studies with law enforcement in multiple U.S. cities. Hound Labs intends to begin manufacturing in the fourth quarter of 2017.

Participated · Series A · Jul 2019

Demetrix uses genetically engineered yeast fermentation to produce a range of cannabinoids that are rare or present in very small amounts in the cannabis plant. The company launched with an $11 million seed round led by Horizons Ventures to commercialize research from Jay Keasling’s lab. It has since raised another $50 million from Horizons Ventures and Tuatara Capital to significantly expand production and to pursue initial efficacy tests on rare cannabinoid strains as potential treatments. Demetrix plans to target pharmaceuticals, consumer health, wellness and beauty applications, and supplements. The company has been working closely with the FDA and equivalent regulators and has not yet supplied its cannabinoids while it scales manufacturing and completes regulatory work. Leadership says the firm is aiming to bring products into consumer and supplement channels within roughly three years.

Led · Series A · Jun 2019

Green Flower Media operates a video-first cannabis education platform featuring more than 2,000 hours of content from 700+ experts, doctors, researchers, entrepreneurs, and thought leaders. Its core products include expert-led Certificate programs (Cannabis Business, Medical Applications, Regulations & Compliance, Extraction, Hemp/CBD, Sales, and more) and a subscription streaming service. The company serves thousands of students and job seekers and provides training used by cannabis companies and mainstream businesses to onboard and scale staff. Upcoming product plans include four new original-content channels (Cannabis for Health & Wellness, Cannabis Business, Growing Cannabis & Hemp, and Cannabis Culture) and distribution via a new mobile app and OTT channels beginning in Q3. Green Flower is expanding its in-house production capabilities and creating a dedicated higher education department to support credentialing and course development. Financially, the company announced a $20 million Series A to fund these initiatives and support a planned increase in staffing.

Led · Series B · Jun 2019

Enlighten is a multifaceted cannabis technology company that provides a media and adtech platform reaching cannabis consumers. Based in Bowling Green, Kentucky, the company serves nearly 1,000 cannabis and hemp businesses, including dispensaries, cultivators and producers, head shops, cannabis lounges and healthcare facilities. Led by Chairman and CEO Jeremy Jacobs, Enlighten positions itself as a full-scale enterprise technology solution for the cannabis industry. The company intends to use the Series B proceeds to further expand its TV network, finalize new technology and data solutions, and expand its wellness division focused on alternative health. Financially, the company closed an over $6.5 million Series B round. Investors in the round included Tuatara Capital, L.P. as lead and participation from Arcadian New Venture Fund, L.P. Eyechronic operates an ad-based television network that broadcasts real-time content on large screens placed in legal cannabis dispensaries across the U.S. The network runs social media walls, trivia, weekly educational segments and recent news to engage customers, increase revenue, and raise brand awareness. The company sells marketing services to dispensaries and cannabis brands and designs content to maximize effectiveness at point of sale. Eyechronic is led by co-founder and CEO Jeremy Jacobs. It raised $3M in a Series A that brings total capital raised to $5.25M. The new funding is intended to enable expansion into new markets, including California after that state’s adult-use launch on January 1, 2018.

Led · Series A · Sep 2017

Green Dot Labs produces premium cannabis extracts and proprietary genetics, marketed under its Black Label Nectar product line. Founded in 2014 by Alana Malone and David Malone, the company uses advanced horticultural practices to cultivate its strains. It closed a $3.3m Series A to support operational growth and market expansion. The funds will be used to optimize its Colorado cultivation and extraction operating platform, secure strategic intellectual property, and facilitate entry into new markets. The company is building a new extraction lab, slated for completion in early October, to significantly expand production capacity while maintaining quality standards. Black Label Nectar is positioned to debut in Colorado’s adult-use market in October 2017.