By Kaisha-Dyan McMillan, journalist specializing in the cannabis industry
We caught up with Codie Sanchez, Managing Director at private equity investment firm Cresco Capital Partners, to get a sneak peek into her upcoming Keynote address “Show me the Money: The Future of Finance in Cannabis.” As Sanchez explains, speaking at NCIA’s upcoming California Cannabis Business Conference is all about ensuring the health of the nascent cannabis industry.
“We’re always looking for ways to support burgeoning startups in the cannabis space – and really, every business in cannabis right now is a startup – to help accelerate them into what we think are venture style businesses,” Sanchez explains. “And for those that for whatever reason aren’t functioning well, we want to help turn them into a productive member of the cannabis industry again.”
In the years since making her first cannabis investment in 2014, Sanchez has become one of five partners at Cresco tasked with scouring the United States and Europe for deals focused on two key areas. The first centers on identifying companies that possess what she refers to as “a unique moat around their business” – as characterized by top tier management and a differentiated business model — to accelerate through funding. The second type of investment is in companies which, “are typically distressed, turnarounds, or spin-offs where perhaps we think that there’s a marked opportunity for performance improvement,” she says.
Delivering this year’s Keynote is a chance for Sanchez and co-presenter Troy Dayton, CEO of Cresco portfolio company Arcview Group, to offer direct guidance to California cannabis entrepreneurs.
“We’re going to talk about the ten trends that I see in cannabis and how to leverage those in order to get additional investments for your business,” she reveals. “Given what we’ve seen over the past six months – which is a lot of volatility in the space, massively decreased investment in the space, decline in market capitalization – it’s more important now than ever, in my opinion, to get money in order to shore up your defenses for any sort of down market.”
Whether conference attendees are seeking funding for their cannabis businesses, or looking for opportunities to invest, this keynote is not to be missed. “You’re essentially going to hear from the two of us, who have seen thousands and thousands of deals between us, on the things we wishfounders knew before they pinged us,” Sanchez says, “and the things that we wish we knew when we were first investing in cannabis startups.”
Join Codie Sanchez and Troy Dayton for their keynote address, which officially kicks off the National Cannabis Industry Association’s 3rd annual California Cannabis Business Association. It’s the only association-backed cannabis expo to focus on the California market, and it all begins October 8 in Long Beach. Register your spot today!
Are you interested in spending time with Codie up close and personal? Register today for Early Risers Round Table: Breakfast & Business with Codie Sanchez on Tuesday, October 8. Breakfast is on us as you join an intimate group of business-minded professionals to discuss navigating finance in the cannabis space.
Kaisha started journaling when she received her first diary at the age of 9. The practice of using words to document thoughts, process feelings, and weave a story was intuitive from the moment she set pen to page.
When considering a niche in 2016, she originally chose cannabis because of her experience taking it for wellness. After taking a weekend seminar at Oaksterdam University to educate herself further, it became clear that her marketing background and writing skills were how she could best help this burgeoning industry. Her favorite cannabis copywriting projects are those that reduce stigma, provide education, and help consumers understand how cannabis could be a viable holistic option for their needs. As a Gen X African-American woman, her journalistic focus is on the women and people of color doing amazing things in the industry, especially in her hometown of Oakland.