About

Canopy Rivers is a venture capital firm specializing in cannabis.

Canopy Growth is Canopy Rivers’ cornerstone investor, with a ~27% ownership interest, and is a strategic partner as well. 

Canopy Rivers had ~CA$44MM in cash for future investments as of May 31, 2020.

Canopy Rivers’ mission is to invest in innovators  who specialize across the cannabis value chain. Backed by our expertise, we aim to bring these innovators together to find benefits in each others’ strengths and grow together. In the long-term, we strive to help portfolio companies find ways to grow revenue and generate positive cash flow, guiding them towards an eventual exit or other monetization event. Learn more about our venture capital roadmap to value creation.

In reviewing more than 2,200 pitches, Canopy Rivers has a unique vantage point into how the cannabis value chain is evolving. These insights, coupled with the strong syndicate of investors we partner with, help us efficiently allocate capital. Post investment Canopy Rivers’ in-house team of experts with backgrounds in cannabis and complementary industries works closely with our portfolio companies and makes efforts to accelerate their operational success. They do this by helping our portfolio companies with regulatory guidance, operational build-out, market intelligence, distribution, partnership opportunities, and other important areas. Learn more about our venture capital roadmap to value creation.

Canopy Rivers is a stage agnostic investor, although our sweet spot is generally series A to C rounds, with typical investments ranging from CA$5-10MM. We are also open to seed stage deals. What matters most to us is that companies test well within our investment criteria. Further to that, we are lifecycle investors, and you will often see us deploy capital across multiple stages of a portfolio company’s evolution. 

Canopy Rivers invests in companies across the cannabis value chain from seed to sale. To date, our portfolio includes licensed producers, extractors, consumer brands, plant science innovators, retail operators, and data and technology companies. We separate the cannabis value chain into 10 verticals: agriculture and food sciences, production, processing, pharmaceuticals and biotechnology, software and data, hardware, consumer products and accessories, wellness products, retail and distribution, and media and content.

Prospective companies should highlight the key components of their story while leaving more specific details on their business to the Q&A and due diligence process. We believe that regardless of segment, a good pitch deck can tell a compelling story in only 10 slides—no more, no less. Send us your pitch using the form on our website.

Yes. Canopy Rivers evaluates and invests in opportunities globally wherever operations are legal and compliant with applicable regulations. Send us your pitch using the form on our website.

To submit your pitch deck or business plan for Canopy Rivers’ consideration, please fill out the form on our website.

Canopy Rivers is willing to lead rounds as well as invest as part of a syndicate. We are always open to the possibility of collaborating with other sophisticated investor teams.

After seeing a pitch that drives significant interest, we present a high level summary of the prospective deal to our Investment Committee for consideration. If the Investment Committee believes the opportunity demonstrates potential, we proceed with due diligence. Due diligence involves a deep dive into the potential investee's business, and includes rigorous operational, financial, legal, and market analysis. At the same time, we'll work with our counterparty on the legal documents. The actual duration of this phase can vary greatly depending on the company and the complexity of the deal. Once due diligence is complete and the terms and structure have been ironed out, the final form of the deal will be presented to the Investment Committee and all required approvals will be obtained.  

Canopy Rivers generally uses five indicators to evaluate investment opportunities: market size, market need, traction, return on investment, and most important to us, the leadership team.

Canopy Rivers’ check sizes have ranged from <CA$1MM to $40MM, but our more typical investment range is between CA$5-10MM. We are focused on making minority stake investments. As a publicly-traded venture capital firm specializing in cannabis, we can provide public market investors with exposure to the private cannabis markets. We employ diverse investment structures including debt, preferred and common equity, and production-linked royalties.

If your company has already raised capital, there is often room for collaboration outside of financing. Please direct business inquiries to Canopy Rivers’ contact page.

Canopy Rivers benefits from Canopy Growth’s resources, extensive know-how, and global footprint, while portfolio companies may access Canopy Growth’s distribution network, genetics, and strategic support.  Canopy Growth can gain exposure to new brands and intellectual property, access to offtake cannabis and manufacturing partners, and a potential early look at possible acquisition targets. 

Canopy Rivers evaluates board and observer positions on a case-by-case basis. We hold both positions in several portfolio companies. Regardless of our level of board involvement with a portfolio company, we take an active role in helping our companies grow.

Canopy Rivers’ class A subordinated voting shares trade on the Toronto Stock Exchange (TSX) under the ticker symbol “RIV” and on the OTC Markets under the ticker symbol “CNPOF”.

Canopy Rivers’ objective is to make investments that generate returns in the form of dividends, interest, rent, royalties, or capital appreciation. In the long-term, we aim to help portfolio companies find ways to grow revenue and generate positive cash flow, guiding them towards an eventual exit or other monetization event. Learn more about our venture capital roadmap to value creation.

Canopy Rivers’ investor relations department can be contacted toll free at 1-855-227-8639 or by email at ir@canopyrivers.com

Download Canopy Rivers’ investor presentation here.

Individuals in the United States can purchase and sell stock in Canopy Rivers. There are two ways you can do this:

1. Invest through Interactive Brokers, Fidelity, or Schwab. These U.S.-based brokerages allow U.S. investors to access nearly all TSX-listed stocks. Search for RIV on Interactive and Fidelity to access full quotes and trading information. If you’re using Schwab, you will need to use Canopy Rivers’ OTC ticker symbol, CNPOF.
2. Call your broker. Since not all U.S. brokerages offer access to TSX-listed stocks, your broker may be able to help you with trading access and up-to-date quote information.

Real-time information on Canopy Rivers’ share price can be found on the stock info tab of our Investors page.

Canopy Rivers does not report financial metrics that are typical of Canadian LPs or U.S. MSOs, such as revenue or cost of goods sold. Instead, you will see items on our financial statements such as interest income, fair value changes, and others. For information on how we account for our investments, please refer to our blog.

Canopy Rivers publishes press releases to announce the date it intends to report its financial results after each fiscal quarter. A tentative list of financial reporting and earnings call dates is available on the Investors section of our website.

A list detailing Canopy Rivers’ analyst coverage is available on the Investors section of our website.