Flow Kana Raises $125 Million to Expand Cannabis Supply Chain
Marijuana producer and distributor Flow Kana, based in Redwood Valley, California, has closed on a $125 million deal that is being touted as the largest private funding round for a U.S.-based cannabis company.
The funds will allow Flow Kana to finish building its manufacturing facilities on the former Fetzer Vineyards ranch in the Redwood Valley and add cannabis-infused oils, tinctures, vapes and topical ointments to its product line, said Michael Steinmetz, co-founder and CEO. The company currently only produces marijuana flowers.
The lead investor was New York-based private equity firm Gotham Green Partners. Other investors include San Francisco-based hedge fund Poseidon Asset Management, Chicago-based Salveo Capital, and venture capitalist Roger McNamee.
