Frequently Asked Questions

  • An investment firm focused on the legal cannabis industry through principal investments, syndicated investments and advisory services.

  • The Receptive Capital Syndicate (the “Syndicate”) is a group of early stage investors who seek access to highly-vetted, private deals in the legal cannabis industry. Currently, the Syndicate is focused on investing in brands, technology and groundbreaking science companies in the East Coast cannabis markets of the United States. The Syndicate is led by Rick Bashkoff, Managing Director of Receptive Capital.

  • When you become a member of the Syndicate, you're under no obligation to invest in any deals. You are only showing interest in receiving information about the deals and committing to keeping any information you receive confidential.

    The Syndicate Lead invites members to participate in or pass on any given deal. The Syndicate members pool capital into a special purpose vehicle (“SPV”) that invests in a single company alongside the Syndicate Lead, on a deal by deal basis.

    You can read more about the step by step process and our fund administrator.

  • Rick Bashkoff, Managing Director of Receptive Capital. I've held senior positions at one of the largest record companies in the world, a pioneering media tech startup, an enterprise SaaS company in growth mode and an early stage cannabis tech company. I’ve specialized in building long-term, mutually beneficial partnerships and I’m highly skilled in the creation and execution of a wide variety of business models and business plans. Throughout my career I have been an active investor through personal investments mainly focused on tech, CPG, cannabis and crypto.

    You can read more about me and why I launched the syndicate.

  • There are two requirements:

    1 You must be invited to join the Syndicate. 

    2 You must be an accredited investor as defined by the SEC here.

    An accredited investor, in the context of a natural person, includes anyone who:

    • earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR

    • has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence). 

  • The onboarding process includes (1) completing a simple form about yourself and (2) signing an NDA (One NDA for all deals moving forward. You will not have to sign an NDA for each deal) . Beyond that, I ask that you review the deals I send and keep the details confidential. That is all.

  • No. Being a member of the Syndicate only means you are interested in receiving information about the deals and committing to keeping any information you receive confidential.

  • Membership in the Syndicate is currently invite only. If you are ready to join the syndicate please complete the onboarding form and NDA. You will receive an email confirming you have been added as a member of the Syndicate.

  • We believe that all businesses and organizations focused on the legal cannabis industry must promote diversity, equity and inclusion. No cannabis business or organization is complete without it. 

    Here is our plan:

    1. Our core mission, “To invest in, support and scale companies that enable a robust, sustainable and just cannabis industry” is anchored in an investment strategy that seeks founders and management teams with diverse backgrounds and companies that plan to act to right the wrongs of the war on drugs. 

    2. We will donate funds on an ongoing basis to support the non-profit organizations fighting to help end racial discrimination.

    3. We will provide opportunities for our members to discover and participate with organizations who fight for diversity, equity and inclusion in the cannabis industry.

  • For the purposes of this Syndicate I am defining the “East Coast” as the following states in alphabetical order. I plan to invest mainly in the Tier I markets listed below.

    Tier 1: Connecticut (CT), Florida (FL), Georgia (GA), Maryland (MD), Massachusetts (MA), New Jersey (NJ), New York (NY), Pennsylvania (PA) and Virginia. 

    Tier 2: Delaware (DE), Maine (ME), New Hampshire (NH), North Carolina (NC), Rhode Island (RI), South Carolina (SC), Vermont (VT), Washington D.C. (DC)

    1. Source - An opportunity is sourced via one of our established channels.

    2. Evaluate - Initial meeting with founders and an initial high level assessment of investment opportunity and materials.

    3. Due Diligence - Activities are wide-ranging and will include: Follow on deep dive meetings with key team members, running references on founders or key team members, product testing, market and competitive research, legal and financial due diligence (e.g. validating corporate documents, financial model review, etc.)

    4. Investment Memo - Syndicate Lead will circulate an investment memo summarizing the opportunity and giving investors in the syndicate the ability to engage, ask questions, conduct their own due diligence and confirm their interest.

    5. Close - Coordination of document signature and investment closing.

    6. Participate - Syndicate Lead to provide ongoing business development and operational support to the portfolio companies.

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