CPMG, L2 Ventures and Nosara Capital lead $100 million investment in cannabis company LeafLink

Business-to-business cannabis marketplace LeafLink said Wednesday it closed a $100 million Series D financing round led by CPMG, L2 Ventures and Nosara Capital, alongside participation from existing investors. Founded in 2016, LeafLink currently serves cannabis brands and retailers with software and services through a cannabis marketplace. The company has named founder and CEO Ryan G. Smith as executive chairman while COO Artie Minson is now CEO. Karan Gupta has joined the company as chief technology officer. LeafLink’s marketplace currently processes about $5 billion in annual transactions, representing an estimated 50% of legal U.S. wholesale cannabis commerce, the company said.  The AdvisorShares Pure U.S. Cannabis ETF
MSOS,
+2.54%
is down 1.3% in 2023, compared to an 11.5% gain by the Nasdaq
COMP,
+2.00%.