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What Being an Angel Investor in the Cannabis Industry Looks like – Brian Holmes

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In this episode we interview Brian Holmes of First Ascent Associates. Brian is an angel investor who invests a significant portion of their million fund in cannabis startups. He is one of the few investors actually putting his money where his mouth is in the cannabis industry. He has taken 3 cannabis companies public, and he continues to support and evaluate cannabis startups everyday. Brandon and Brian also dive into his father’s first cannabis investment with an ex-con, his recent investment into GrowCondos, and the exciting world of angel investing.

Show Notes:

1.14 – First Ascent started from being a startup founder

2.06 – the dreaded vice clause

2.20 – the line between vc and angel

2.54 – writing checks for 0K+

3.02 – we are seed and pre-seed investors

5.45 – pogoseat investment

6.16 – 7 investments so far

6.25 – goal is to 30-60 investments in fund 1

6.38 – initial fund is 3 million$

8.05 – my father’s partner is an excon

8.33 – my dad asked for his mom to meet the excon

9.05 – CBDS ticker symbol

9.15 – CBD medical company

9.35 – strains were proprietary in some way

9.53 – stock started at $ .25, peaked at

10.48 – Taken 3 companies public, 1 through the fund

11.05 – Tech focused fund

11.10 – Growcondos investment thesis

12.35 – first Growcondo warehouse in medford, OR

13.00 – grey market people trying to go legal

13.30 – is medical cannabis going to persist?

14.10 – cannasys investment thesis

15.05 – The founders started as growers, had a dispensary, then started software company

16.30 – Hemp market is bigger than cannabis

17.10 – companies are going to pivot and shift

18.40 – whats your fail estimation for cannabis startups?

19.00 – in this busineess all about the outliers

20.00 – CBDS, Growcondos, Cannasys – all 3 have gone public

20.50 – Public cannabis is not like a tech ipo

21.32 – Startup Pitch decks

21.43 – review 10 decks, 2-3 in person meetings

22.00 – 1/50 they invest in

22.15 – what should founders send to investors?

23.13 – Funding Bottleneck is series A financing

23.45 – Numbers that Investors Like: 50-100k in revenue with strong MoM growth

24.35 – The best deals don’t always have the best #’s

25.14 – Average a mill cap for seed stage investments

25.40 – Bridge Rounds

26.35 – Due Diligence – What matters to you?

27.55 – how do bigger investors start writing checks?

First Ascent Associates: http://www.firstascentassociates.com/
Cannasys: http://www.cannasys.com/
GrowCondos: http://www.growcondos.com/

Learn more about and subscribe to the Investing in Cannabis podcast: http://investingincannabis.tv/

Contact us with any questions, thoughts, ideas for our show here: investingincannabis@gmail.com
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This article was first published on http://www.cannabisworld.biz.