Dark
Light
Today: May 22, 2024
January 19, 2024
1 min read

Unlicensed Connecticut Marijuana Investment: A Risky Green Opportunity

Marijuana edibles company, 1906, which received a $1.25 million investment from Connecticut Innovations, a venture capital firm owned by the state of Connecticut, does not have a license to operate in the state. The investment was made with the condition that 1906 would relocate its headquarters to Connecticut and create jobs in the state. However, 1906 does not have a Connecticut marijuana business license, leading to concerns that the investment may be lost. The company applied for a manufacturing license through the state lottery but was not selected. Connecticut Innovations stated that its mission is to create jobs and eventually take the company public or sell it for a profit. It is unknown if Connecticut Innovations has invested in other marijuana companies since funding 1906.

Previous Story

18 Years of Investments Crushed: Boulder VC Firm Foundry Closes

Next Story

Revving Up: Lightship Secures $34M in Startup Funding for Electric RV

Latest from Blog

LabGenius Secures £35 Million in Series B Round

TLDR: LabGenius, a London-based drug discovery company, raised £35M in Series B funding led by M Ventures. The company plans to use the funds to further develop its machine learning-driven drug discovery
Go toTop