MIAMI – July 29, 2022—B-HIVE LLC (a cannabis venture group), today announced that it has received a $15 million funding commitment from a leading Singapore investment organization via its relationship with Kinetiq Group in the United States. These funds represent 75% of B-HIVE’s $20 million Series A raise that was launched just last month for its international cannabis venture group.
“This tranche and phase of B-HIVE’s Series A capital raise significantly increases its financial position and demonstrates the confidence in the depth of resources that we’ll use to build business, including the market expansion of B-HIVE with its members and strategic partners,” said Ken Grams, chief executive officer of B-HIVE. “We’re pleased with this vote of confidence from a highly knowledgeable and successful multi-discipline investment firm.”
B-HIVE is an emerging international company from the United States that’s focused on bringing innovative solutions, products and resources to the cannabis industry with its cannabis venture group members. From patented technology, IP and SaaS solutions to compliance and advisory with an experienced team in market expansion, B-HIVE is well positioned with a diverse offering to be a leading firm to make an industry impact.
The final tranche of less than $5M remains, which represents under 25% of the initial total Series A that remains available to both accredited and non-USA investors with an expected closing in August. Series A investors and B-HIVE cannabis venture group members also include Breedco, Frontier Spectrum, Huicanna, Kinetiq Group and members of management.”
B-HIVE will use the proceeds of the fundraising to continue to expand its markets across the Americas (North America & South America) while aggregating equity and asset acquisitions in complementary cannabis industry segments. Concurrently, B-HIVE will facilitate key state and country-by-country Market Director hires in preparation of broader outreach activities with its strategic partners.
Commenting on the news, Kasper Desmet, Founder of ColQuae & Partners, as a Special Advisor to B-HIVE and Senior Director for Kinetiq Group, “It’s great to see there’s trust in this venture group with geographically spread assets and its strategy while all around markets seem to be crumbling, shying away investors, both on an institutional and retail level.”
For more information on B-HIVE’s innovative solutions and venture group members, visit Cannabis Business Solutions | B-HIVE Cannabis Venture Group (b-hivebiz.com)
We provide cannabis operational and investment support to clients in the United States, Canada, Colombia, Uruguay, the Netherlands, and Germany. B-HIVE’s managing partner, Kinetiq Group, is a top-tier boutique financial advisory and business development firm with a growing network, a global presence, and a structure built to support the demands of a hyper-growth industry.
Related links: www.kinetiqgroup.com