Canopy Rivers puts up $2M toward Edmonton-based edibles makerCannabis venture capital firm Canopy Rivers made its first new investment in nearly a year on Monday, announcing it pledged $2 million to Dynaleo, a company that makes pot-infused gummies.
The investment, which equates to a 12 per cent stake in the Edmonton-based company, is Canopy Rivers’ first investment in a new firm since June 2019.
In a statement, Canopy Rivers’ CEO Narbé Alexandrian said the pot-infused gummies market has a “significant supply and demand imbalance”, which could see Dynaleo emerge as a potential leader in the space.
Jefferies analyst Owen Bennett sees Constellation’s investment in Canopy improving sentiment in the cannabis sector.
Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formation of the entirely new – and controversial – Canadian recreational marijuana industry.