David Hess is today's featured Cannabis Investor. The HempTown USA Cannabis Investor Series is back for the third year. This year, the Series is featuring eighteen of the cannabis industry's top investors who review the previous 12-months and share their 2021 investment strategies. On today's episode Dan Humiston is joined by David Hess from Tress Capital. Produced by PodCONX
David Hess is today's featured Cannabis Investor.
The HempTown USA Cannabis Investor Series is back for the third year. This year, the Series is featuring eighteen of the cannabis industry's top investors who review the previous 12-months and share their 2021 investment strategies. On today's episode Dan Humiston is joined by David Hess from Tress Capital.
Tress Dan's Track and Tress Daves Track
[00:00:00]David Hess: to never give up because, it's easy.
For an entrepreneur when things get tough just to, move on to the next project. And, as investors and shareholders on the cap table, we need to be confident that, the operators not only can pivot, but have that. Inner strength have that resilience to really break through any barrier, any wall that is presented before them. today on raising cannabis capital, we are [00:01:00] continuing this year's cannabis investor series with another former guest. David has the founder and president of trust capital David Walker, back to the show.
Thank you, Dan. Excited to be here.
Dan Humiston: I'm really happy to have you back. And there's so much that I want to talk to you about today, but with our limited time, I'm going to have to skim through some of the things about your journey to cannabis that we covered the last time you were here. So I'm going to encourage our listeners to go back and listen to episode one 59 to learn more about David.
But for today there is one. Thing that is always really relative. And that's that you're a two time cancer survivor. And that experience, really led you to this path and is the foundation for your investment thesis let's start here.
Or what advantages have you gained from being a cancer survivor?
David Hess: So I. Always talk about the number one character trait. The number one quality that we look for in operators is resilience [00:02:00] that grit, right? Because as an entrepreneur and I am an lifelong entrepreneur it's so important to be able to have that inner strength that resilience.
Every day, there are going to be, challenges and they come out, when you least expect them as a cancer survivor, that's truly what I've learned. the most, out of my experience with cancer is how truly resilient I am and the grit that is within me to keep going and to never give up because, it's easy.
For an entrepreneur when things get tough just to, move on to the next project. And, as investors and shareholders on the cap table, we need to be confident that, the operators not only can pivot, but have that. Inner strength have that resilience to really break through any barrier, any wall that is [00:03:00] presented before them.
And so out of all my silver linings that I experienced through through cancer being a cancer survivor, it's 100% the resilience, that I've been able to take from that.
Dan Humiston: you mentioned that you're an entrepreneur and, I think every entrepreneur thinks they're an investor and I think every investor thinks they're an entrepreneur, but
they are not the same. We are wired differently. And over the years I've had number of conversation with you and your partner, Asher, and I've always come away feeling that I'm speaking to another entrepreneur, not an investor. Has anyone ever said that to you before?
David Hess: All the time. and when asked, what are the unique differentiators between tress and some of our colleagues, as investors and investment management firms that focus specifically and strictly on cannabis? Is that not only do I have that past as a cancer survivor and really see things.
Through the lenses of a medical cannabis patient, because as and as your audience will hear from, episode one 59, that's really what [00:04:00] drives my passion, in the cannabis industry is the fact that cannabis really did help me get through my treatments and, enabled me to really
thrive today, but not only do I see things through the eyes of a medical cannabis, patients, I see things through the lenses of an entrepreneur. I've been an entrepreneur. My entire life
and so I can. At times, support and guide the operators and share my experience with them as well. and, all my, failures. Yeah. And there have been many, If any entrepreneur says that they've never failed in life, they're not an entrepreneur. And so through all my failures in life, I've chosen to learn.
from those failures and ensure that next go around, I do it that much better. And so I've really been able to. help a lot of operators inside and outside of our portfolio in sharing those experiences as an entrepreneur. and it really helps us relate to them.
Dan Humiston: Yeah. And speaking of COVID, I'm glad you just read this one. I write up [00:05:00] for me, but a lot of the companies took the hunker down. Let's ride this thing out strategy, but not you guys, I see you on virtual events. Everywhere.
do you think companies right now should be following your example and trying to gobble up market share?
David Hess: Now's the time. whether it's because there are a lot of distressed opportunities out there, or, because there are a lot of. Collaboration opportunities, M and a, and other type of collaboration opportunities,
whenever there's chaos, there's all types of opportunities that STEM from that chaos, but it's really important to work with a company like trust and really that's. Truly why I've been spending so much time, educating investors, really since COVID really picked up, because there's so much chaos, And it's important to take advantage of the opportunity, but to do wisely.
Dan Humiston: and you brought something up that I haven't heard before, but I think it's a really good [00:06:00] point is that yeah, you want to make an investment. That's going to bring you a nice return, but you also want to feel good about that investment. And I think that's what cannabis brings to the table is that there's a real sense pride in investing in a company that's doing good.
is that what you're talking about when you're talking about an impact companies,
David Hess: Yeah, absolutely.
a lot of cultivation talk about sustainability, but the real question becomes, how are they validating? How are they measuring that data? how are they proven, that they are in fact sustainable and it's not just the cultivations, right? The amount of waste, be it packaging, or other types of waste we see in the industry as well.
It needs quite a bit of attention and it's starting to get that attention. Social equity programs when it comes to licenses. we're hearing a lot about that right now. And as new States open up, that's certainly one area that they look at, and consider. very much is the social equity programs.
this industry truly is an impact industry and
it's important [00:07:00] to really share the story, to the shareholders and to the investment community at large, that of all the true impact, and the true ESG advancements that we're making there are so many like minded investors and operators, entrepreneurs that talk about sustainability that talk about ESG. but what's exciting is we can measure that and we're working with some great companies. we'll be making some announcements shortly, on a new fund that we're putting out as well.
That is going to focus on those impact investments. And what we're going to actually do is tie in the trench allocations to the. Measured data. And for those that aren't used measuring, their impact, this will help train them and incentivize them to do that.
And again, it will just further off for the credibility and legitimacy that our industry, warrants.
Dan Humiston: Man. That's good stuff. That's really good stuff. And I'm sure a lot of the people that are listening right now, [00:08:00] will want to know more about it. I'll have a link to trust capital and David in the show notes. So if you want to continue this conversation and learn more about trust capital, just go to the show notes or go to MJ, bulls.com.
David, always good catching up. I wish we had more time. Great talking to you.
David Hess: Thank you. Thank you all that you're doing. I, I'm a big fan of not only MJ bulls, but all the podcasts. that you've been, putting forward. And, I thank you for what you do every day our industry.it's an industry that I've believed in.
for, really all my life, as long as I can remember. And, I'm just thrilled that you're able to educate and normalize our industry, your audience members globally. Really. And, I look forward to speaking with everybody, please reach out.
Yeah. And, look forward to connecting with you.
.