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Highly Objective
By Dai TruongBusiness
Highly Objective episodes
- Poseidon Asset Management, Managing Partner, Morgan Paxhia
I spoke with Morgan Paxhia last week to revisit their funds & performance, fundraising, the recently launched Poseidon AdvisorShares Poseidon Dynamic Cannabis ETF, Mastermind, and more.
1 hr 6 min - Flowhub CEO, Kyle Sherman
Flowhub announced a $19 Million Series B (what I’m categorizing it as) round last month led by Headline (Series A Lead), with participation from Poseidon, Massive and Jay-Z. I caught up with CEO, Kyle Sherman, to revisit the early days, funding, and the company’s growth plans, among other things.
Notes:
- Seed (May 2015 through April 2017) — multiple rounds to raise ~$8M from Arcadian, Altitude Investment Management, Phyto Partners, Poseidon
- $23M Series A (June 2019) — Headline, Poseidon, Evolv Ventures
Wanted to broaden the reach as they had raised from ~80% of the Cannabis VC funds at that timeSpoke to over 300 firms and individuals; came close with a fund but one of the LPs wouldn’t approve the deal given the vice clauseMet his Series A investor, Jett Fein (Headline), at the Fortune Brainstorm Conference- $19M Series B (October 2021) — Headline, Poseidon, Massive VC, Jay-Z
Introduced to Jay-Z through one of their Angel investorsThe Company’s newest investor did sell his company, TIDAL, to Square back in March 2021—so I’m going to assume Jay-Z will have some helpful insights on digital payments- Remote Work — heavily researched the 1918 pandemic virus, became a fully remote company back in May
- US Cannabis Council — one of the founding members of the Cannabis Trade Federation which became the US Cannabis Council. Kyle has been active in pushing to build an equitable, diverse, and fair industry
- Associate Producer on Weed the People
- Fox Business News Interview
43 min - springbig CEO, Jeffrey Harris
- Started in 2014 serving
- Pivoted in 2016 after seeing two Cannabis retailers on the platform spend 5-10x more than other retailers on the platform
- Raised $3.2M Seed (December 2017) led by Mike Gamson (Next Play Ventures), Green Acre Capital and HALLEY Venture Partners also invested
- Raised $5M Series A (December 2018) led by Altitude Investment Management, where they targeted only two Cannabis VC firms and got term sheets from both
- Raised $11.5M Series B (August 2020) led by TVC Capital, which seems to have a thesis around Cannabis software (also invested in GrowFlow around the same time)
44 min - Jane Technologies, CEO, Socrates Rosenfeld
How the idea for Jane Technologies came about, Building a Cannabis Tech company in Santa Cruz, Raising the $6M Series A, Product Offerings, Cannabis Markets
55 min - 1 hr 24 min
- Harborside Interim CEO, Matt Hawkins
Matt is also Managing Partner at Entourage Effect Capital. We discuss M&A, Rerating, California, Verticalization, and Investing.
42 min - Planet 13 Co-CEO, Bob Groesbeck
Bob Groesbeck talks about the Superstore vs. Neighborhood Stores concept, entry into CA, FL, and IL, House Brands, Wholesale, and M&A.
31 min - Ayr Wellness - CEO, Jonathan Sandelman
Jonathan Sandelman talks about the company's most recent quarter, it's trading discount to peers, recent acquisition of LEVIA, cutting down to three core brands, and why he recently joined twitter.
47 min
About Highly Objective
From the publisher's feed
Conversations with leading executives and investors in the Cannabis industry.