Leading cannabis investor network, Arcview, is making its first trip to Canada to join us at the Lift Expo! Lift is proud to present the Arcview Sneak Peek, taking place on the main stage of the Lift Expo on Saturday, Sep 17 at 5pm. Arcview is well-known south of the border for its Investor Forums where cannabis startups compete for a $50,000 investment from Arcview and potentially more from its massive network of accredited investors.
The Sneak Peek in Vancouver consists of three cannabis startups pitching their companies on the main stage in front of a panel of esteemed judges. If you're an entrepreneur thinking about getting into the cannabis space or you're already involved and are thinking about raising money, this is a great opportunity to see how other startups are approaching it and the types of questions investors may ask you. Who are the competitors and sharks (aka judges), you may ask? You'll just have to attend the Sneak Peek to find out!
While the winning company will not receive guaranteed investment at this particular competition, it will win some great prizes and each company will meet directly with interested accredited investors at a networking event immediately following the competition (Are you an accredited investor? Join us at 6pm in room #109 for complimentary food, drinks, and intimate conversation with all three competing companies).
We recently had a chance to speak with the Arcview Group CEO, Troy Dayton, about his company and his thoughts on the Canadian cannabis industry:
Lift: How did Arcview get its start?
Troy Dayton: In 2009 I was the lead fundraiser for the Marijuana Policy Project. I was raising money from high net worth individuals who care about ending marijuana prohibition that began to get interested in this industry they were inadvertently creating with their desire for justice. I was also raising money from dispensary operators and ancillary product companies in Northern California. People were wanting to do business but the cannabis businesses didn’t know the first thing about how to talk to investors and the investors didn’t know the first thing about the cannabis industry. Steve DeAngelo at Harborside noticed the same thing. Both us of ultimately believed that if we could develop a responsible, politically-engaged, and profitable cannabis industry that this would become the biggest factor leading to a day when not a single adult is punished for this plant. With that in mind, we co-founded Arcview in 2010.
Lift: What services does Arcview provide?
TD: The Arcview Group runs the Arcview Investor Network, where over 550 high net worth dues-paying investor members have placed more than $83 million into 130 companies and donated $1.4 million to legalization efforts. Arcview recently published the 4th edition of the State of Legal Marijuana Markets report, this time in partnership with New Frontier. Arcview is partner in business accelerator, Canopy and business insurance provider, Cannasure.
Lift: How many pitch competitions have you done and what are they like?
We’ve done 21 Arcview Investor Forums since 2011. They’ve evolved quite a bit over time. We now receive 20-30 applications from companies to pitch per week. We choose 2-4 of them to receive free mentorship to help them hone their pitch for our members. Each week we host a webinar for members only where the companies present and are rated by our members. Approximately five times a year, the selection committee made up of Arcview investor members chooses a dozen or so companies to present from stage at our big “Arc Tank” events, where they are paired up with additional mentors and a panel of “sharks” ask them tough questions from stage. The investors all make their own investment decisions but they also get to vote for the best pitch. Arcview invests $50,000 into the company that wins best pitch provided they qualify and complete due diligence.
Our events are unlike anything else. The camaraderie among members and the generous support they give to each other and the companies is truly remarkable. It’s like a family.
Lift: This is your first time doing something in Canada. How do you view the Canadian market compared to the US?
TD: Canada is most exciting because there is not a state/federal conflict. You also have a nascent medical cannabis market but an adult-use market likely coming right behind it. That creates a perfect storm for investment as we’ve seen with numerous double-digit financings of producers in Canada. The disadvantage is that Canada is small compared to California and what the U.S. as a whole could be under legalization.
Lift: What does the future hold for Arcview in Canada and in general?
TD: We shall see. ; ) Canadian investors are welcome to join Arcview and companies are welcome to apply to pitch at Arcview’s upcoming members-only pitch forums in Las Vegas, Los Angeles, and Barcelona over the next 5 months.
For more info about Arcview visit www.arcviewgroup.com. To get tickets to the Lift Expo and watch the Arcview Sneak Peek, visit www.liftexpo.ca. The competition takes place at 5:00pm Saturday on the main stage, while the accredited investor-only networking event takes place at 6:00pm in room #109.