Pros and Cons of Different Cultivation Methods and Cons of Different Cultivation Methods Chris Wrenn...
Transcript of Pros and Cons of Different Cultivation Methods and Cons of Different Cultivation Methods Chris Wrenn...
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Pros and Cons of Different Cultivation Methods
Chris Wrenn - Aessance Corp Jennifer Martin - Cultivation Sector Consulting
Raising Money for Your Startup – A Tactical Guide Sara Batterby
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• Startups forever • Designing an Angel Fund and understanding risk • Absorbing the investor mindset • Leading a raise • Doing it my way with Hifi Farms
Who Am I and Why Am I Here? From Angel Investing to Oregon Cannabis
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Emotional: • Mindset • Story • Authenticity • Confidence and trust • Be a hero!
Tactical: • Preparation • Cohort Capital • Presentation • Communication • Close
Art and Science Fundraising is Tactical and Emotional Work
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• Timing - Set a date and stick to it. Don’t jump the gun! • Format - Your investor folder - Complete = confidence • Structure - Understanding debt and equity • Components:
Preparation Demonstrate Strong Understanding of your Business
- Incorporation documentation - Investment instrument - Executive summary/business plan
- Pro forma - Excel is your friend
- Pitch - only if you need it
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• Stage - F&F, Seed/Angel, Series A • Friends - You and your team, make a list! • Networks - Who can you reach and how? • Platforms - You have to stand out • Momentum - Work it and turn pull into push
The Cohort Raise Effective Fundraising is a Team Sport
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• Always start with a conversation! • Send materials, schedule a follow up call/meeting • Constant communications and updates = engagement • Leverage your cohort to build credibility and appetite • Commitments - Ask for a number, date and likelihood • Fortify - Don’t rush. Treat commitments like your board
Presentation and Communication Investors are People Too
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An Investment Opportunity Be Direct, Be Specific
We are seeking:
$400K in equity or debt capital.
$100K of this is currently closed or committed.
Using a convertible note with a valuation cap of $8M.
We are looking for investors who can add strategic value to our board and our future plans for growth!
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Address Investor Returns and Exit Blending Value Creation and Residual Returns
• Board approved distributions starting month 25 of plan • Preparing for for acquisition and/or national scale in 3-5 years
Acquisition at $100+M is not a pipe dream in cannabis.
Being the best will bring us the best opportunities in the market
as it emerges here and throughout the US.
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• Power – Establish an authentic sense of scarcity • Timing - Set a date for closing commitments • Confidence - Hold your space and assume the close • Keep youR cohort together and steer them into the deal
Close Be the Leader of Your Raise
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Emotional: • Mindset • Story • Authenticity • Confidence and trust • Be a hero!
Tactical: • Preparation • Targeting • Presentation • Communication • Close
Art and Science Fundraising is Tactical and Emotional Work
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• Challenge intimidation by knowing your value • Read between the dollar signs • Be present but not overly attentive • Never fall into waiting. Google drive is your friend • Use email for updates and confirmations only • Insist on a level playing field. Walk away from arrogant
money
Mindset – It’s All About You Be the Sort of Professional that You Would Want to Invest In
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Mindset – It’s Not About You Understand the World Outside Your Business
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Mindset Designed With an Investor Mindset
Standard and unique protections for your investors:
• Capped salaries You get paid when we get paid • Founders equity Vested over 3 years • Governance Strong, engaged board • Commitments Extensive vetting and scrutiny • D&O insurance You are covered
Get ahead of investor concerns to streamline and speed up due diligence
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Story Be Bigger Than Your Business
What nobody tells you in business school: • Read between the dollar signs • Be in service • Invest in others • Make Family
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Authenticity, Confidence and Trust Be Yourself