Break-in at top Illinois cultivator
Verano’s Albion-based Ataraxia Cultivation Plant was broken into over the weekend. WSIL-TV reported that Illinois State Police is investigating the theft, which took place early Sunday morning.
Additional investigation is being coordinated by the Illinois Department of Agriculture, Southern Illinois Drug Task Force, ISP Crime Scene Services, and ISP Division of Criminal Investigation (DCI) Zone 8.
Ataraxia is the most productive of all of the cultivators in Illinois. It’s unclear if the break-in had any material impact on production.
Parent company Verano remains independent after a $850 million acquisition bid from Arizona-based Harvest Health was nixed earlier this year.
Phyto Partners now hopes to raise $25 million VC fund
After going to market in February with hopes of raising $50 million for its third cannabis-focused venture capital fund, Boca Raton-based Phyto Partners is now seeking $25 million from accredited investors to put into cannabis-oriented startups and growth-stage companies.
Phyto, which made dozens of investments with its first two funds (including Chicago-based software company Fyllo), is now focusing on “the new normal” of cannabis companies adjusting to post-covid landscape.
“Early in the crisis, cannabis went from illegal to essential,” managing partner Larry Schnurmacher told Forbes. “I am not sure how much longer the federal government can ignore this and keep federal laws behind the reality.”
Michigan’s electoral honor roll
The Michigan Cannabis Industry Association is handing out letter grades for candidates running for state office in the upcoming November election.
Regardless of party lines, candidates vying for public office in Michigan seem to be a hit in the industry. All democrats scored an A or a B, while 90 percent of republicans also landed in that range.
See the full report card here.