aBIZinaBOX Partners Closes First Funding Round
aBIZinaBOX Partners, an affiliate of aBIZinaBOX Inc. is pleased to announce the close of the first round of funding for aBIZinaBOX Partners, LLC. The fund is unique in that it will provide targeted purpose funding solely to clients of aBIZinaBOX’s financial advisory, tax and technology clients, and the investors in the fund are entirely made up of accredited investors from the firm’s client base. Details of the fund structure are confidential at this time, however one of the key drivers is the firms concept known as “tech leverage”.
The fund’s first investment is an entity that will provide support to the compliance arm of a medical cannabis collective in Northern California.
The venture is a California limited liability company that is organized and operated as a collective in compliance with California’s Compassionate Use Act (“CCUA”). The venture was organized, and will be operated, in a manner that complies with California’s Medical Marijuana Regulation and Safety Act (“MMRSA”). The organization and operation of venture is comparable to a farmers processing cooperative organized and operated for the benefit of small farmers who are engaged in growing a single commodity.
The venture was established to facilitate the compliance of its grower/members with MMRSA. The venture will operate solely for the benefit of its grower/members. The venture will provide all of the services required under MMRSA to move the flower and trim of its grower/members into the commercial medical marijuana market. Flower will be screened, quarantined, tested and packaged for sale. Oil will be extracted from trim utilizing Waters CO2 extraction equipment. Extracted oil will be tested and packaged for sale. The venture will perform the services for its grower/members of a distributorship and of a non-volatile extractor in conformity with the requirements of MMRSA.
aBIZinaBOX is structuring the technology platform, accounting and e-commerce systems and advising on the regulatory compliance for the venture.
There will be further announcements in the near future.