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By Omar Sacirbey
A New York-based private equity firm has raised $93 million to pump into cannabis companies, giving it the largest pool of capital ever gathered for marijuana-related investments.
Tuatara Capital, founded in 2014, announced today that it has closed out its two funds and will use the capital to make equity investments in high-growth cannabis companies in the research & testing, cultivation, processing, consumer and retail sub-sectors.
Tuatara said its original fund target was $80 million, meaning the firm surpassed its goal by about 16%.
The amount is significantly larger than the $75 million raised by