Noah Sanborn Friedman, the co-founder of Top Shelf Ventures, spends his day looking for alcohol brands to invest in, and he has a lot of insights into everything from navigating the USA’s complex regulatory system to raising capital in a challenging market. In this interview, he discusses what he looks for in a brand, the importance of liquid-to-lips strategy and why he believes now is the best time to invest in alcohol. He also talks about the industry’s response to health and wellness trends and the rise of non-alc beverages.

Noah’s great combination of hard-headed financial acumen and great enthusiasm makes this a lively, insightful conversation.