Salveo Capital, an alternative investment firm specialising in the legalised cannabis space, has completed an investment in Harborside.
The investment, which is part of a Series B funding for Harborside, will help facilitate the company’s expansion throughout California and further improve its supply chain.
Founded in 2006, Harborside is one of the oldest, largest and most respected names in the cannabis industry. Having played a significant role in making cannabis safe and accessible to a broad and diverse community of California consumers, Harborside has cultivated a network of retail stores with a reputation for offering a curated selection of award-winning flower, concentrates, edibles and other cannabis products from a number of California’s most respected growers and manufacturers.
“Combining a well-respected brand and diverse array of offerings, Harborside has been a consistent leader in the development of the modern cannabis industry and one which ensures all offerings in their lineup have been rigorously tested to guarantee their quality,” says Jeffrey Howard, a Managing Partner at Salveo Capital. “As the market continues to mature, we anticipate increased focus from consumers on the quality and purity of the products they purchase. We are very excited to add one of the most iconic names in the cannabis industry to our portfolio as they aggressively expand in California, the largest cannabis market in the world.”
“Harborside is well known throughout California, the United States and internationally, and we believe that now is an opportune time to team up with financial sponsors who can help our company accelerate growth,” said Andrew Berman, Chief Executive Officer of Harborside. “As the market continues to expand, finding an experienced strategic partner like Salveo to help us scale the business and further increase our presence in California is critical. We believe Salveo’s investment philosophy and industry expertise make them an ideal investor for us, and we are thrilled to welcome them to the Harborside family.”
