Expanding the adult use market even further with Codie Sanchez, Managing Director of Entourage Effect Capital. Investors are showing a distinct preference for companies focused on the adult-use market over medical. From 2017 through mid-May this year, investors poured $1.8 billion into adult-use focused companies according to data in the MGO | ELLO Cannabis Private Investment Review, powered by PitchBook Data. By comparison, the medical segment trailed markedly, with $730 million total invested over the same period. According to a recent Benzinga article, Americans will spend about $12.5 billion on adult-use cannabis this year, an increase of one-third over 2018. And the potential for growth in the years to come is significant as more states legalize adult use. Cannabis is also becoming a foundational ingredient in products such as beer and energy drinks, edibles, and balms, expanding the adult use market even further. We dive into if she thinks that investment into adult use comes with fewer challenges. As well as about the changes underway, how all of this changes the company’s value proposition as a firm, and much more. Codie Sanchez is a Managing Director and Partner at Entourage Effect Capital (formerly Cresco Capital Partners), venture capital and private equity fund in the legalized cannabis space with $100M in AUM. She previously built and lead First Trust’s ($120B) Latin America Investment business. Prior to that, she held positions in equity analysts at Goldman Sachs ($1.5T), institutional fixed income at State Street ($2.8T), and international equity at Vanguard ($5.3T). She started her career as a journalist where she won the JFK award and the Howard Buffett Foundation grant for covering human trafficking. Sanchez is a pundit and columnist on investing, macro trends, cannabis, and startups. She has been highlighted on The Today Show, Forbes, Fast Company, Entrepreneur, People en Español, Business Wire, Cheddar, etc.
Categories: Podcasts