That’s why Patrick Horsman, the CEO of Integrated CBD, an industrial-scale hemp oil manufacturer, took a novel approach in fundraising. He took on debt. Integrated CBD closed a $50 million funding round on Tuesday, raising a mix of equity and debt from investors. The bulk of the debt, $30 million, was provided by an undisclosed $7.5 billion hedge fund.  Unlike its high-inducing cousin, THC, CBD, or cannabidiol, is federally legal in the US. That means that institutional investors are able to lend to CBD-only facilities, lowering the cost of capital for operators. And it could become a huge market. Analysts at the investment bank Cowen expect CBD to become a $16 billion market in the US alone by 2025.  Integrated CBD’s CEO, Patrick Horsman, told Business Insider in a Tuesday interview that manufacturing CBD at an industrial scale takes a lot of capital to get off the ground. He didn’t want to put his company at a disadvantage by paying high-interest rates or diluting too much of his and his cofounders’ equity in the company. According to the specifics of the deal, Integrated CBD is giving up a small number of warrants to the debt investor and paying back t...