Pot-related VC firm to close $50 million funding

The firm expects to close a $50 million equity financing by September, according to an S.E.C. disclosure it filed Tuesday. When combined with an earlier $7 million equity round, which closed a year ago, and a $15 million convertible bridge loan it obtained in February, the firm will have raised $72 million for the purpose of reinvesting in legitimate pot-related enterprises. No other marijuana-related investment fund appears to be nearly as far along.

Read more in Fortune.