Archytas Ventures Builds on Momentum in Cannabis Investing
LOS ANGELES, Oct. 17, 2018 /CNW/ -- Archytas Ventures, a California-based investment firm with meaningful holdings in the emerging legal cannabis and hemp sectors, achieved a major liquidity event with the successful IPO of Halo Labs. Halo Labs, a cannabis extraction company focused on the development and manufacturing of cannabis-derived products, held its IPO on Canada's NEO exchange this month.
"We commend Halo Labs on this significant event as their visionary leadership and management continue to deepen their product offerings and revenue growth in the fast-expanding North American cannabis oil market," said Archytas Ventures Co-founder, Antony Radbod.
Another Archytas Ventures portfolio company, Xtraction Services, currently leases fully automated extraction equipment, rotary evaporators, distillation units, and other ancillary equipment to Halo Labs, and Archytas expects that Xtraction will continue to provide such services to Halo through its planned multi-state expansion.
Following this milestone, Archytas Ventures will remain focused on investment opportunities in the booming legal cannabis market, which in the U.S. alone, is expected to grow from $8 billion in 2018 to $24 billion in 2025.
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