If you’ve pitched a cannabis startup in the last decade, chances are you’ve crossed paths with Patrick Rea.
As co-founder of CanopyBoulder—one of the first cannabis startup accelerators—and now Managing Director at Poseidon Garden Ventures, Patrick has seen more decks, fielded more pitches, and mentored more founders than just about anyone in the space. His advice is hard-won and brutally clear: the best founders show up prepared, ask the right questions, and know how to communicate clearly.
In this episode of High Touch, Patrick joins SparkPlug founders Jake and Andrew to break down what great pitching actually looks like, what he listens for in the first 30 seconds, and what still trips founders up—especially in cannabis.
Start With the Right Questions
When asked what signals he's come to associate with a sophisticated founder, Patrick didn’t hesitate:
“I know I’m dealing with a sophisticated entrepreneur when they come to pitch and they ask questions. They understand, they ask about where we are in our fund cycle, how big is the fund? How is it going? How much time do we have left to deploy?”
This isn’t just a test of manners. It’s a reflection of business acumen. If a founder can’t tailor their pitch to the investor in front of them, it signals a lack of preparation—and often, poor fit.
“Especially if you plan to raise equity and you find out you’re talking to an investor who only does debt… it’s a nice meet, no reason to go any further, right?”
Don’t Just Talk—Check In
Founders who barrel through a pitch without checking in are another red flag.
“Founders who don’t check in on… like after the first couple of slides. They are just a cross-eyed stream of consciousness until they finish.”
Equally important? Ending clearly.
“It’s so easy to end a presentation by saying thank you so that everybody knows you’re done. That uncomfortable silence at the end of a pitch is really telling of awareness.”
That may sound small, but in Patrick’s view, the pitch is a microcosm of how a founder will run the business. Can they read the room? Adjust on the fly? Deliver key ideas with clarity and confidence?
Why IRL Still Matters
While Zoom pitches and async memos have become the norm post-COVID, Patrick argues that in-person communication still plays a key role in identifying high-potential leaders.
“Investors are drawn to intelligent, charismatic, clear communicators, because if you’re building anything with a team, you need to be all of those.”
Jake and Andrew agreed, reflecting on how pitch events used to serve as trial-by-fire, helping founders fine-tune their messaging in real time.
“There’s a lot that you learn in having to present to people and see how they react in the moment… where their eyes glaze over versus where they’re sitting up a little bit.”
In-person pitching may be a “lost art,” as Patrick put it—but it still reveals the same things it always has: confidence, clarity, and command.
Want to Impress an Investor? Know Your Market
Patrick shared one of the most common mistakes founders make: lack of research.
“Very often we get pitches from founders who clearly don’t understand what they’re talking about because they’re not aware of the competitors or the rules or the regulations.”
In an emerging industry like cannabis, this isn’t just a red flag—it’s a non-starter. Investors like Patrick expect founders to understand what’s already been tried, what hasn’t worked, and where the real white space is.
“It used to be that we didn’t know… now we know. So I think the founders who have started the journey already… they’ve seen the problems firsthand.”
A Final Word: Learn the Art of Prioritization
For Patrick, the best founders aren’t the ones who list ten good ideas—they’re the ones who can tell you which one matters most.
“It’s really easy to say, here are the 10 things that you should do to have a successful company. It’s really hard to say, what’s the one thing I need to do… ‘cause you’ve got nine other ones to choose from.”
In other words, clarity isn’t just good storytelling—it’s good leadership.
