What is Harborside?
Harborside Inc. stands as one of California's pioneering and most respected cannabis retailers, operating three key dispensaries within the San Francisco Bay Area. The company also boasts a unique drive-thru dispensary in the Palm Springs area, a retail location in Oregon, and a cultivation and production facility in Salinas, California. Since its inception in 2006, Harborside has been instrumental in making cannabis accessible and safe for a diverse consumer base. It was among the first entities in the United States to be awarded a medical cannabis license and currently holds licenses for retail, distribution, cultivation, nursery, and manufacturing. The company is publicly traded on the CSE under the ticker symbol "HBOR".
How much funding has Harborside raised?
Harborside has raised a total of $83.8M across 2 funding rounds:
Series A
$6.5M
Debt
$77.3M
Series A (2018): $6.5M with participation from Quinsam Capital and Cresco Capital Partners
Debt (2022): $77.3M led by Pelorus Equity Group
Key Investors in Harborside
Quinsam Capital
Quinsam Capital is an investment firm that has participated in Harborside's funding rounds, likely focusing on companies within the cannabis sector.
Cresco Capital Partners
Cresco Capital Partners, now operating as Entourage Effect Capital, is an investment entity that has backed Harborside, suggesting a strategic interest in the cannabis industry's supply chain and retail operations.
Pelorus Equity Group
Pelorus Equity Group is a leading provider of commercial real estate loans to cannabis businesses, offering flexible acquisition and bridge lending programs. Their involvement indicates a focus on real estate financing within the cannabis sector.
What's next for Harborside?
The recent major strategic investment signals Harborside's intent to further enhance its operational capabilities and market reach. Given the company's established infrastructure and diverse licensing, this capital infusion is likely to be directed towards expanding its retail footprint, optimizing cultivation and production processes, and potentially exploring new market opportunities. As a publicly listed entity, Harborside's strategic moves will be closely watched by investors and industry observers alike, with a focus on sustainable growth and profitability in the evolving cannabis landscape.
See full Harborside company page
