Letter to Shareholders (2018/19)
At Canopy Rivers, we are committed to making the cannabis industry stronger, faster, better, and smarter by accelerating the success of the companies we invest in. As a venture capital firm specializing in cannabis, we are looking for the next wave of disruptors that will change the industry as we know it. We are in the unique position of attracting a truly global collection of investor and entrepreneur communities. When we bring people, capital and ideas together, we raise the potential of the global cannabis industry.
We are building the cannabis industry of tomorrow, today.
When Canopy Rivers was founded in 2017, the model was simple: accumulate cash and put it into opportunities; find like-minded operators looking to grow their cannabis businesses; and collaborate with Canopy Growth while we do it. While this is still true today, we have also made some important changes. We have strengthened and expanded our corporate principles, refined our investment and operating strategy by following the examples set by the world’s leading venture capital funds in other industries, and focused on decreasing risk and accelerating the path to unlocking value for our shareholders. And we have barely scratched the surface. If we compare the cannabis industry to a baseball game, we are, at best, still early in the second inning – there is a lot of game left to play.
In this letter, we get into:
our unique value proposition;
our thesis-driven investment strategy;
some noteworthy transactions;
financial highlights for FY2019;
our growth plan; and
the people who drive us forward.
By reading this letter, we hope that you will achieve an understanding of our strategy and our goals, and a clear view of where we succeeded and where we need to improve as we continue to build a transformational and enduring business.
Thanks to you, our shareholders, for investing in us, believing in us.
We are where the smart money goes.