Participated · Seed · Jan 2020

Cann Social Tonics produces microdosed, non-alcoholic THC-infused beverages designed to deliver an uplifting buzz comparable to a beer or glass of wine. Its drinks are vegan, gluten-free, low in calories, contain five all‑natural ingredients, and omit artificial sweeteners, flavors, preservatives, and a cannabis taste. Since launching in 2019 in Los Angeles, Cann has sold its 10 millionth can and is available across multiple U.S. states and parts of Canada. The brand has won industry recognition (BevNET New Beverage Showdown, 2019) and is backed by a roster of celebrity investors including Gwyneth Paltrow, Kate Hudson, Baron Davis, Rebel Wilson, Rosario Dawson and others. Management and InvestBev state the company aims to integrate safe, approachable cannabis beverages into mainstream beverage channels with expanded distribution and operational support. Cann produces low‑THC cannabis beverages (an 8‑ounce can contains 2mg THC and 4mg CBD) and offers a range of products including THC‑infused syrups and cannabis‑free tonic waters. Its core positioning is as a drinkable alternative to alcohol, though price points (a California 6‑pack retails for $20) and state cannabis taxes make it costlier than mainstream beer or spiked seltzers. The company currently sells in California, Massachusetts, Rhode Island, Nevada and Illinois and is expanding internationally into Canada, beginning with Ontario. Cann has experimented with multiple SKUs and pack sizes (including 12‑packs of tonic waters) to find market fit. The business has raised institutional and celebrity investor backing and previously closed a $5M seed round in 2020; the articles also note the company has moved roughly 150,000 units. Regulatory limits on cannabis markets constrain where Cann can expand next. Cann produces a cannabis-infused social tonic that balances 2 mg of THC and 4 mg of CBD per can, designed to deliver a feeling of vigor and well-being in about 10 minutes. The tonic contains 30–35 calories and is made from five all-natural ingredients; products are non-GMO and contain no gluten, added sugars, concentrated juices, or artificial flavors. Led by Luke Anderson and Jake Bullock, the company is stocked in over 60 dispensaries throughout California and is available for delivery across the state via Eaze. Cann plans to use its recently raised capital to grow across California and enter new legal state markets, expand production capacity, and broaden and accelerate product development. The company is based in Los Angeles, CA. Cann produces microdosed THC and CBD-infused beverages (2 mg THC and 5 mg CBD per can) sold in $30 multi-flavor six-packs with herbaceous and floral flavor profiles. The company launched with a soft June release across four MedMen stores in Los Angeles and is rolling out broader distribution through the delivery service Eaze in California. Founders Jake Bullock and Luke Anderson are former Bain consultants who developed the product after fundraising through the fall. Cann raised $1.5 million from investors to support the launch and early distribution. The founders emphasize learning purchase and repurchase behavior from small releases and plan to expand retail and delivery reach. They have engaged with 4thMVMT as part of efforts to support communities harmed by the War on Drugs and link the business to social-impact goals.

Led · Equity · Sep 2019

Future State Brands (FSB) is a Los Angeles-based consumer goods and marketing holding company overseeing a portfolio of THC, hemp and CBD brands. Its current portfolio includes hemp beauty line Hempathy; functional beverage platform Ceeby Dee’s; art-centric infused wearables The Patch Co.; and music-driven flower brand Heavy Grass. FSB recently acquired a majority interest in premium hash brand Hot Nife and is working with founder Circe Wallace to reintroduce the brand to market. The company says it will use the capital to develop innovative products, pursue acquisitions and build brands that resonate with target consumers. FSB’s flagship icon PRØHBTD launched a new website integrating content and e-commerce and the brand is expanding beyond its digital footprint into cannabis and street-style consumer products. The company has transitioned several PRØHBTD executives into Future State Brands leadership and made multiple senior hires across consumer brands, sales, design and finance.

Led · Series A · Jan 2019

NorCal Cannabis operates a vertically integrated cannabis business with cultivation (indoor flower), manufacturing, processing, packaging, distribution, a direct-to-consumer statewide delivery platform and retail dispensaries. Its product mix includes indoor flower, extracts, edibles and infused products produced at a Santa Rosa campus. The company runs production facilities with more than 100,000 sq. feet of indoor flower canopy and a network of statewide delivery depots. NorCal owns and operates two dispensaries and has 10 more under development. Founded in 2015 by Douglas Cortina (CEO) and Jigar Patel (President), the company has raised capital totalling $50m to date. It intends to use new funds to increase production and manufacturing capacity, expand its statewide delivery platform, and grow its retail and customer-facing presence, and is considering a potential 2019 public listing.

Led · Series A · Jun 2018

Prøhbtd produces premium lifestyle- and culture-focused content with cannabis as the hook rather than the exclusive focus. Its video content is available on the Prøhbtd website and on streaming devices like Apple TV and Roku; the company reported 21 million views in May with an average view time of 3 minutes 45 seconds. Programming includes series such as Edibles, and the company works with more than 60 cannabis brands across branded videos, sponsorships, product development, design and marketing. Leadership frames branded work alongside editorial content and pursues mainstream partnerships such as a deal with Advertising Week. CEO Drake Sutton-Shearer said the company is exploring international opportunities in Canada, Australia and Latin America and is planning a Canadian public offering. Financially, Prøhbtd recently closed an $8 million Series A to scale its content and commercial efforts.