On March 18, 2016, CanopyBoulder announced that it had raised a $2 million fund to invest in two classes of startups for its business accelerator program in 2016.

CanopyBoulder’s third class of 10 companies started its 16-week program on Feb. 29, including companies focusing on everything from a monthly subscription box to a home-grow system and an independent testing laboratory to a vaporizing water pipe slide.

“The 2015 CanopyBoulder alumni raised more than $10 million in capital to support their operations and we have high expectations for the 2016 classes,” said Patrick Rea, co-founder and CEO of CanopyBoulder. “These entrepreneurs will be some of the hardest-working people in the cannabis industry for the next 4 months, and though success is never guaranteed, investors have rewarded strong teams, exciting innovations and qualified founders.”

According to a recent report from CB Insights, CanopyBoulder was ranked as the number one most active investor in private cannabis companies from 2011-2015.