Patrick Rea, Co-Founder, CanopyBoulder - Lit Up Founders

Episode 22

Patrick Rea, Co-Founder, CanopyBoulder

One of the hardest things for driven people to do, is to learn when to adapt and persevere and when to move on. Today’s guest shares a few stories about how he learned those lessons.

As a young kid, he found an early passion for Soccer. It wasn’t tallent alone though, he put in the work; hours on the field in practice. Through the sport, he learned a lot about himself; he liked to see and understand the big picture. The perfect spot to get that view was Goalie!

That dedication and commitment eventually turned into Olympic prep, which further led to an invite to the Ivy League to play at Brown! On Senior day, his parents drove 14 hours to see their son play; only to see him on the bench, in favor of a younger, taller, Freshman Goalie. He was gutted. Contemplating leaving the team, he reached out to an athlete friend for guidance; the advice was simple, talk to the coach, see what he could do, needed to do, to be on and in the team. Received well, he followed that guidance, did his part, and was eventually rewarded with opportunity when the team needed him.

A number of years into professional life, working in the natural products industry, he was given a huge promotion from managing 1 line of business to 15. The workload was crushing. Days stretched into weeks, and into months. He came home every night drained. It was literally killing him. With a Mortgage, Wife, and two daughters, a driven person doesn’t just quit, but, as he noted, "If you can't take care of yourself, you can't take care of anyone else". For him and his family, he needed to find the right vein for him.

With a background in startups, investing and mentoring, a slight pivot from Natural Supplements to the nascent Cannabis Industry was his next eon. With the synergies and success that followed, it proved to be the correct choice with the huge impact his company has had on the Cannabis Industry.

Please enjoy the Founders Journey of Patrick Rea, Co-Founder of CanopyBoulder.

Professional Summary:

In 2013, Patrick founded CanopyBoulder, a seed-stage, mentorship-driven business accelerator and investment fund focused on data, fintech, software, and IoT in the cannabis industry as well as hemp/CBD businesses. At CanopyBoulder, Patrick raised five accelerator funds and invested in 115 companies in the cannabis industry.

Prior to CanopyBoulder, Patrick spent 15 years in the natural products industry in roles including M&A, strategic management consulting, venture finance, B2B media, e-commerce, CEO coaching, and entrepreneur mentorship.   

For five years, Patrick was a consistent presence on The Arcview Group’s selection committee and in 2014 acted as Executive Editor for ArcView’s State of the Legal Marijuana Market report.  He frequently runs panels at industry events, and has served as a judge for multiple Marijuana Business Conference & Expo Pitch Slams.

Patrick graduated with two degrees from Brown University where he played Division I soccer,  and resides in Boulder, Colorado with his wife and two daughters. Patrick embraces all that Colorado has to offer to build relationships with his investors and portfolio CEOs, often inviting them to join him trail running, hiking, mountain biking, and snowboarding in the foothills outside of Boulder.

Company Summary:

CanopyBoulder is the leading business accelerator in the cannabis industry. Founded in 2013, CanopyBoulder supports seed-stage cannabis startups through investment and a structured business accelerator program. Since its founding, CanopyBoulder has invested in 115 startups, launching companies like BDSA, Wurk, Front Range Biosciences, HappyCabbage and PotGuide into the cannabis industry.

Show Notes:

Quotes:

  • "If you can't take care of yourself, you can can't take care of anyone else"
  • For Ancillary companies, due to 280e “tie money spent to ROI of increased revenue (or savings) with effect profit”

Top 5 Articles/Interview with our Guest:

Inspirational Founders:

Patrick Rea, Co-Founder, CanopyBoulder

https://www.linkedin.com/in/reapatrick/

https://twitter.com/patrickrea

https://www.poseidonassetmanagement.com/

https://www.canopyboulder.com

https://www.facebook.com/canopyboulder

https://www.youtube.com/channel/UCZ2CEKjstcxUwHsQeCgDeoA

https://twitter.com/CanopyBoulder

https://www.linkedin.com/company/canopyboulder

Brian Weber, Producer & Host, Lit Up Founders

https://wwww.linkedin.com/in/briancweber

www.litupfounders.com

www.facebook.com/LitUpFounders/

www.instagram.com/LitUpFounders/

www.twitter.com/LitUpFounders

www.linkedin.com/company/litupmedia/

Listen to the episode here or on our website litupfounders.com, Apple Podcasts, Google Podcasts, Spotify, Stitcher, TuneIn, iHeartRadio or RSS to your favorite podcast app.

About the Podcast

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Lit Up Founders
A show about the entrepreneurial pioneers of the Modern Cannabis Industry and the Organizations they are building. Each episode features the founder themself, sharing their journey in creating the most impactful ideas in Modern Cannabis.

About your host

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Brian Weber

Producer & Host of Lit Up Founders.

Through his current company, Digital Realty, Brian has served the retail industry as technology and business consultant for the past 9 years; empowering retailers with technology.

In researching the Cannabis Industry he was fascinated in seeing what the entrepreneurs were building in a, and because of, the Federal illegal status. With his experience as an entrepreneur, supporting entrepreneurship, some background in broadcast radio, and a love for amazing medium of podcasts (especially "How I built this" by Guy Raz); all converged to create the spark moment that spawned Lit Up Founders. I hope you enjoy!

Brian holds a B.S. in Management Science & Information Systems from Rutgers University Business School. He is currently seeking Product Manager / Partner Manager / Account Executive positions in Cannabis Retail Technology & Payments. He currently lives in Jersey City, New Jersey with his dog Zeke.