Seth Yakatan

Raising & Selling 📈 $1B+ Raised 💰 22 Companies Sold 🤝

Are you struggling to communicate your vision to the capital gatekeepers?

Are you exploring selling your business but don’t know anything about:
✘ Due diligence
✘ Term sheets
✘ Earnouts

Friend, you're lucky you found me...

I'm Seth Yakatan.

I have 30-odd years experience as a corporate finance professional.

My specialties are:
💰 Raising money
🤝 Selling companies

And I’m f**king good at it.

I’ve raised over $1B and sold 22 businesses.

My career has mostly been supporting small-cap and major corporations seeking capital to grow, or
to find strategic acquirers.

Most of these companies are in: 
— biotech
— cannabis
— pharmaceuticals
— DTC consumer goods

I’ve been on boards, taken companies public, gone up against multinational corporations, raised from VC and PE funds.

All of it. 
Many times over.
Whatever your problem is, I’ve seen it before.

But let me level with you:

What I REALLY love is helping people to get to the finish line.

Talking to entrepreneurs excites me.

But in my experience, entrepreneurs are mostly s**t at raising capital and selling companies.

** They just don’t understand investors **

And that’s where I come in.

Together, we workshop: 
✔ Your pitch
✔ Your deck
✔ Your strategy 

And help you raise the capital to GROW and SELL your business.

If you need this help—and almost every business does—send me a DM.

Like, now.

Don't lose another potential investor or acquirer with the wrong pitch.

Seth ✌️

Co-Founder

Merchant Bank / Advisory / Family Office

Hate the three largest MSOs?? Well hate all you want, look at the numbers…

You’ll see that THEY ALL DELIVERED on Q4 2025 results.

Say what you want…the numbers DON’T LIE.


>> What Happened?

Trulieve delivers industry-leading adj. EBITDA margin of 35.8%. 
(Oh they also have $255.5M in cash!)

Green Thumb Industries (GTI) grows revenue and adj. EBITDA by 5% and 19%, respectively. 
(While reversing the gross margin slide and delivering GM of 52.7%.) 

Curaleaf grew revenue by 4.0% while beating adj. EBITDA estimates.
(All while lapping the FIELD with 65% y/o/y growth in Europe.)


>> Why Is It Important?

Kim has a war chest and is poised to dominate TX and PA.

Ben has cash, stock, and has grown margin DESPITE compression.

Boris is the world’s largest cannabis operator by market cap. PERIOD.


>> What Am I Watching?

Boris has made a jump into EU for growth, do Kim and Ben follow suit?

If 280e goes away, do Truelive and GTI see a big bump in price?

Which one of these three raises THE MOST equity the day after S3?


You know I have been critical of all three of these companies and CEOs.

Time for me to give a tip of the cap to all three for DELIVERING on RESULTS, period.

Say whatever you want about these MSOs…

The NUMBERS DON’T LIE.

Where will you find me this year ???

At an IgniteIt Cannabis thats where...


Taking some time to thank the whole squad there...
Elliot Lane
Patrick Lane
Jason Raznick

Appreciate ALL YOU DO...
CHI-TOWN IS COMING !!!!!

What is it that you "do" for work ???

Honestly I am not 100% sure what "I Do"

I am 
a therapist
a garbage man
a facilitator
But most of all

a truth teller...

Thanks to Rachel Wright, CPA, MST and VERDANT Strategies

Want a relationship ?

Start with a bank, I did...

Shout out to the whole team First Citizens Bank
And My ACE Diana A.

Need a place because you been thrown out of every other bank ?
Call her or DM me...

Thanks to the crew at Sweed for the video...

U.S. cannabis sales fell 3.1% in Jan. 2026 vs. Dec. 2025…

This was across 15 tracked markets.

The data shows us that demand didn’t collapse….

But momentum has softened.


>> What’s Happening?

January sales dropped 3.1% sequentially across 15 U.S. markets.

Yes, down from December, but UP 4.6% year-over-year.

So demand didn’t fall off a cliff.

Declines hit western markets and 8 Eastern markets

What we are seeing is a redistribution.


>> Why Is This Important?

This is what market maturity can look like.

We are now playing with price compression + market saturation.

Cannabis might be behaving like a real consumer category.

Real consumer categories don’t grow in straight lines.

Ask Alcohol…


>> What Am I Watching?

Does this make already scarce capital become even more scarce?

Solvency wins in markets like this, watch the balance sheet…

This is where M&A waves begin (and have begun): in slowdowns.


January 2026 was not a bad month.

January 2026 was a signal, if you are able to read it.

The industry is shifting from land grab…to capital discipline.

And historically?

That’s when consolidation begins.

Watch the balance sheets — not the headlines.

No alternative text description for this image

So you thought the labor unions were going to sit still? Well, the TEAMSTERS started being the TEAMSTERS.

Cresco Labs is going to template how unions are going to begin shaping the future of the sector.


>> What’s Happening?

Workers at a Cresco Labs’ store in have gone on strike!

The decided to unanimously walking out over wages, hours, and long-term stability.

And the employees ARE REPRESENTED by…..Teamsters Local 429.

Shocked? I’m not…


>> Why Is This Important?

Make no mistake, unions are still powerful.

Teamster-affiliated pension capital exceeds $100B.

1.3 million members…nah…1 in 10 workers is a Teamster.

Teamsters touch almost 20% of ALL CPG goods in the USA.


>> What Am I Watching?

The Brotherhood has be quietly showing up in the industry for 3+ years. Does this signal great action by the Union?

They have the power to make changes, force policy and provide capital. Does this put the National in a mood to make a move?

Teamsters move America. Will they organize in a way that shapes the future trajectory of the industry?


When organized labor starts demanding “middle-class careers” inside cannabis, we know we’re no longer in a “startup ecosystem.”

You are in an “industry.”

Make no mistake the Brotherhood has the power and $$$ to shape things.

Now we have to wait and see what they will do next.

The Booze guys keep telling me:

“Everything is OK” but…

THE DATA tells a completely different story.

What I’m reading is:

GEN Z ain’t DRINKING.


>> What’s Happening?

In 2025, Gen Z accounted for only 4 % of alcohol sales.

You read that right. FOUR PERCENT!

21% of the country only purchased 4% of the alcohol.

And they’re THE FUTURE.

This is WAYYYY smaller than any marketers and policymakers assumed.


>> Why Does This Matter?

Well…EVERY industry is betting on Gen Z driving massive consumption.

And that might be true for a lot of products, but absolutely not for alcohol.

So the question then becomes, if Gen Z ain’t showing up for alcohol, then WHERE ARE THEY?


>> What Am I Watching?

What is the actual spend by this demographic across alcohol AND c@nnabis?

What is driving the buying behavior of this group??

IS there a cross-category substitution occurring???


If Big Booze is telling me everything’s ok but the segment they NEED to drive growth is a ghost…

What does that mean for alcohol?

And what does it mean for the future of consumption in the US??

The times are a changin’!

Want the key to success ???

BE PROFITABLE (yes, it's that simple !)

Very few business that are PROFITABLE actually fail...

Crazy, I know...but I am Crazy...

Appreciate Rachel Wright, CPA, MST + The VERDANT Strategies crew

When in doubt about THC bevs, just copy whatever alcohol does…

Makes sense, right?

That’s what Missouri is doing…


>> What’s Happening?

Missouri lawmakers are evaluating new rules around hemp bevs.

Basically, treat it just like alcohol: 21+ age floor, excise taxes, structured compliance, and formal retail controls on where and how and when they can be sold.

Interesting…


>> Why Is This Important?

The free-for-all is over, McConnell saw to that.

Now regulators are making sure this is not a GREY AREA in their own state.

Public policy and public safety means real rules.

AND states are moving AHEAD of FEDERAL CLARITY…

Interesting indeed…


>> What Am I Watching?

Does the alcohol-style model becomes a template?

Potency, labeling, age restrictions, retail placement, and taxation?

IF federal shifts which products actually survive in this space?


This is early how “cannabis beverages” get folded into mainstream categories.

Novelty products, that’s one outcome.

Alcoholic beverages, that’s a market shift YOU need to watch…

Germany’s medical market is quickly GROWING UP!

Dont tell Kaiser Wilhelm.

For me, this is one of the most exciting markets globally. I’ll explain why.


>> What’s happening?

Germany is turbo-charging its domestic medical cannabis cultivation.

This is REAL production capacity coming online, inside Germany.

RESULT: fewer imports, fewer bottlenecks, cheaper AND more reliable supply.


>> Why Does This Matter?

Germany is no longer an “emerging cannabis market”.

Europe’s biggest nation is now building serious infrastructure.

That’s how markets become durable.

More importantly, that is when capital gets comfortable.


>> What Am I Watching?

When does domestic cultivation finally stabilize price and availability?

Which operators can ACTUALLY GROW? (’cause folks that AIN’T EASY…)

How quick does the MSO/LP story line move from “EU optionality” to “Germany”.


Germany is the biggest and most important medical cannabis market in Europe.

In fact, it’s the most important anywhere outside of North America.

And EVERYONE is watching it…

So…the AG of Ohio just sued 9 MSOs…

What??

Yep…9 MSOs.


>> What’s Happening?

The AG of Ohio just filed an anti-trust lawsuit against 9 MSOs for being a cartel.

Suit alleges they moved to (i) reduce product choice, (ii) exclude local operators
& (iii) keep prices artificially high.

Wait isn’t this the MSO 101 playbook? Or am I missing something?


>> Why Is This Important?

This moves to the core of operating cannabis retail.

Reciprocal supply agreements
Shared information
Shelf-space quotas

The suit says: “An industry-wide scheme designed to push small Ohio businesses out of the market.”

Wow…thats not good PERIOD.


>> What Am I Watching?

Not really sure how this plays out but it sure does not “feel” good…

Does M&A move from efficiency to exclusion? (Also not good)

Does this start to show up in EVERY state??


If this gets steam it could be a game changer.

Adjusting my models and grabbing popcorn.

So did you REALLY think the ban was about hemp??

No no no.

It was about ALCOHOL.

And now the numbers are in:


>> Whats Happening?

Alcohol is done watching hemp from the sidelines.

In Q4 2025 a bunch of companies files highlight lobbying disclosures tied to intoxicating hemp:

Moët Hennessy
Bacardi
Diageo
Brown-Forman
The HEINEKEN Company
Sazerac Company

Hmm….read the tea leaves and follow the money.


>> Why Does This Matter?

Lobbying is balance-sheet-based muscle memory for alcohol.

They have been doing it since 1950 and they are GOOD at it.

Make no mistake, the alcohol industry is acknowledging something BIG:

THAT intoxicating hemp is already part of the adult-use landscape.


>> What I Am I Watching?

Which alcohol players move from lobbying to minority investments?

Or does alcohol flex harder to push hemp off the shelves?

Can cannabis incumbents realize they were out gunned (and outspent)?


Not sure how this plays out but I am going to crack 10mg bev and grab the popcorn!

undefined undefined

Moët Hennessy

Bacardi

Diageo

Brown-Forman

The HEINEKEN Company

Sazerac Company

Little more love from the MJ BIZ scene...
Shout for Rectitude Partners LLC
and my man Nicholas Bowers

thanks to the squad at 

Fat Nugs Magazine
Puff Creative

for a great night....4 Grams...COMING!!!!!

Rectitude Partners LLC

Rectitude Partners - Global Cannabis Packaging & Vape Tech Experts

Fat Nugs Magazine

Puff Creative

Is this the FIRST MAJOR ON PREMISE shot fired for THC beverages??

WELCOME to the 2026 Stadium EXPERIENCE!

THC Drinks are coming soon to an ARENA NEAR YOU!


>> What’s Happening?

Chicago’s United Center just announced its serving hemp-derived THC drinks.

Concerts/Sporting events/Big shared moments.

In case you didn’t know, that’s alcohol’s home turf….

THC is showing up more and more, without asking ANYONE for permission.


>> Why Is This Important?

Booze vs. THC is not the point.

The point is THC is now competing for share of occasions.

Normalization comes from repetition in trusted environments.


>> What Am I Watching?

The first league, venue group, or national operator that treats THC beverages in the same way ?

Who puts up the first THC Beverage advert in a stadium? (Remember USC/ Cookies?)

What major sports/food/airport group jump in next ?


5 beers or 5 2MG THC Beverages??

Same night, VERY different morning

Hang 10 and hit the dispo??

Adult use cannabis may be coming to the Aloha State…


>> What’s Happening?

Hawaii lawmakers filed legislation that would put rec cannabis to voters in November 2026.

If passed by a two-thirds vote in both chambers, Hawaii voters would be asked whether to amend the state constitution to legalize adult-use cannabis.


>> Why Does This Matter?

Ballot initiatives are cool but they are NOT a guarantee.

This was not brought forth by the electorate but by elected officials…

Not sure this get traction or mahalo…


>> What Am I Watching?

Do MSOs even bother modeling Hawaii as a near-term market?

Is capital ready to fund something in one of the worlds largest tourist economies?

Do voters notice they’re being asked to decide a policy?


Feel like another version of Pele’s curse.

Cannabis style…I will just grab a shaved ice.

Guess who’s messin’ with Texas?? Cann, that’s who.

Cann is fixin’ to dominate the Lone Star State.

Here’s what’s going down:


>> What’s Happening?

Cann secured Texas distribution with Spec’s.

Spec’s, for those that don’t know, is THE LARGEST beverage retailer in Texas.

Full SKU set in one of the biggest alc retail channels in the USA.


>> Why Is This Important?

This is not a test, a dispensary, one franchisee gone rogue, or a limited run.

THC drinks are moving via mainstream beverage infrastructure.

Spec’s has 200+ doors statewide.

Say what you want, I AM seeing a distribution shift...


>> What Am I Watching?

What other brands can howdy on down to distribution?

What other retailers jump on board now that we have Target, Circle K and Spec’s?

Is there movement on the regulatory side in Texas? (Remember a few months ago they tried to BAN HEMP??)


Want to make sure we give a big congrats to the Cann Team!

Jake B. and Nick Fasano 👏 👏

Feels like Danny Stepper and the LA Libations team left their fingerprints all over here, cause this ain’t my first rodeo…

Want to LEARN MORE? Get your spurs to The Beverage Forum April 2026.

Cann

Changing the way people socialize!

Deep understanding of all things cannabis. From brand development, company structure, state expansion and financial complexities. I help organizations grow from the Black to the white

CEO & Co-Founder at L.A. Libations & Globestepper Productions

LA Libations

The Beverage Forum

When you fail 3 times, why not try for a 4th??

That’s what PA is doing right now as the state makes its FOURTH attempt at a move to Adult Use.

Sure, why not??


>> What’s Happening?

My guy Shapiro gave his fourth budget address.

Increasing overall spending by 6% without broad-based tax hikes.

Oh and he put adult-use BACK on the table…AGAIN.


>> Why Does This Matter?

PA is surrounded by NJ/NY/MD/OH, all of which are pumping REC.

The budget conversation shows how much $ PA is leaving on the table staying medical.

How ELSE can you spend more and NOT tax the general public?


>> What Am I Watching?

This is now #4. Can it REALLY HAPPEN this time?

What will be the policy tradeoffs if this happens? Who loses?

Is THIS a state surrounded by AU finally admitting leakage is a tax policy?


Adult-use didn’t magically reappear…

It reappeared because PA needs the $$$.

Politics and budgets are not based on morality…

Bet your butt they are based on COLD HARD CASH.

And AU seems like a magical cash machine.

Has someone actually cracked the code to S3?

Well, maybe…

Kazmira Pharmacy just announced the first licensed 503A compounding pharmacy in the U.S. dedicated to prescription-only, THC-free CBD.


>> What’s happening?

I’m no lawyer but under the current S3 regs this could be a category.

Take CBD off the wellness aisle and into clinical practice.

Legal, all 50-states with reimbursement?

Hmmmm…


>> Why Does This Matter?

Well, if they crack the distribution matrix problem this could be a thing.

Both anticipating tighter CBD/THC rules and making compliant medicine ahead of the compliance wave.

Seems like a product doctors can prescribe without standing in a dispensary…


>> What Am I Watching?

Do physicians now have a reason to get involved?

Do payers/HSA/FSA systems begin to reimburse and treat this like specialty pharma?

Do others adopt this model?


I know that cannabinoids BEHAVE like medicine…

But once payors get ready for this category to stop being treated like lifestyle products.

Think your business is HARD?

Try this:

1. Every state (and city) has a different set of rules

2. The Government taxes you at an exorbitant rate 

3.  Capital flow is weighted to larger and later-stage operators

4. There is very little capital to begin with...

Now tell me you product is not Federally legal...WELCOME TO C@NNABIS!!!!

Appreciate the love from Alex D. and the squad from The High Index for the spot!

CEO @ The High Index | Connecting people, data, and opportunity

The High Index

Everything's BIGGER in TEXAS? Well, Texas Original just bet the ranch.


>> What's Happening?

Texas Original just opened the largest medical cannabis facility in Texas.

They’re expanding cultivation and processing capacity to meet rising patient demand.

No change in law…no ballot initiative.

Just cash, concrete, steel, and CONFIDENCE.


>> Why Does This Matter?

Well son, you don't go build the largest facility inside one of the most restrictive medical programs in the country…

THIS is what early movers look like in medical states.

And might signal that regulators are comfortable enough to let serious operators scale.


>> What Am I Watching?

Does demand absorb this build?

Does the program allow for success?

Who’s the next operator is to break ground?


Texas ain't first.

It won't be loud.

But when it moves, it will move at TEXAS SCALE.


Cowboy UP y'all.

Greg Moran

Multi-Exit Founder & CEO, Advisor, Investor, Board Member | Posting daily insights to help you scale to $100m+. Host - The Founder’s Journey Podcast

Author of The Adaptive Innovator | Creator and Host, Scaling Across Borders | Founder | Investor | Founder Coach

NOTE: IF YOU'RE TRYING TO CONTACT ME, USE GREG@SCALINGACROSSBORDERS.COM, NOT LI MESSAGES. It's unmanageable and I will not respond through LinkedIn messages or InMail.

I’ve been a founder for most of my adult life, from glass-walled boardrooms in New York and Pali Alto to coffee-stained coworking tables in Kosovo and Delhi. Not because I planned it that way, but because I could never quite shake the pull of building something from nothing.

In my early years, I chased growth at all costs. The pace was relentless, the stakes high, and the wins… like realizing a bottled-up vice for the first time. You knew it was staying with you, for better or worse. I built and exited multiple companies, including two at nine-figure valuations.

It looked great on the outside, but inside? I was riding a bull that was kicking my ass.

Building a company is like taking off in a plane you’re still bolting together mid-air. The only goal at first? Get enough distance between you and the ground so when shit goes wrong … and it will … you’ve got time to respond before the ground rushes up to meet you.

If you’re not intentional, that ground gets closer a lot faster than you think.

That realization changed everything.

Today, I’m still building, but on my terms. I help founders scale with freedom: keeping their vision intact, owning their time, and leading teams built on trust and durable systems, not constant fire drills.

I do that through:

-> Evergreen Mountain Equity Partners — investing in and advising values-aligned companies.

-> Outsorcy — an AI-first, decentralized talent platform helping companies scale global teams smarter.

-> Scaling Across Borders — a docuseries capturing the unfiltered stories of entrepreneurs building in overlooked markets worldwide.

-> My book, The Adaptive Innovator — a playbook for leading with clarity and adaptability in an unpredictable world.

I post founder-to-founder insights here daily … from scaling a remote team across time zones to navigating your first big exit … so follow along if you want the real playbook, not the highlight reel.

The world’s best founders aren’t all in Silicon Valley … and I’m here to prove it.

-> More at GregMoran.me

-> Subscribe to my newsletter: Scaling Beyond Borders at https://expert-creator-5823.kit.com/82c0e3e8c9

-> Buy The Adaptive Innovator at https://a.co/d/75ifhwQ

📬 DMs open for 1:1 coaching, retreats, speaking and credible business opportunities.

Chief Executive Officer (Interim)

At Conquer we are making selling smarter through our enterprise sales enablement platform. Our comprehensive solution combines automation, advanced analytics and AI-driven insights to empower sales teams and drive revenue growth. 

By leveraging our platform, sales professionals can optimize their strategies, enhance customer engagement, and close deals more efficiently. 

From the Balkans to the Baltics, join us as we explore the entrepreneurial ecosystem of Estonia for Season 2 of Scaling Across Borders.

After the conversations, insights, and founder stories from Season 1, we’re continuing the journey in one of the most advanced digital economies in the world. A country known for building global companies, bold founders, and systems designed for scale.

This season is about learning directly from the people building in one of the most forward-thinking innovation hubs in Europe.

New conversations.
New founders.
New perspectives on building globally.

If you know a founder, leader, or operator in Estonia who should be featured in Season 2, or if that person is you, find the details of application in the comments.

Host & Creator, “Scaling Across Borders” | Author, “The Adaptive Innovator” | Multi-Exit Founder | Investor | Please use greg@scalingacrossborders.com to contact me, not LI messages

The "hero founder" model is collapsing.

For a long time, we’ve been told the only way to build a company is to be the martyr. The one who works 100 hours a week, manages every micro-task, and burns out by year three. 

We called it "the hustle," but it’s actually a trap. 
It’s the death of the traditional founder.

The future belongs to the Sovereign Founder.

A Sovereign Founder doesn't measure success by how many hours they spend in the trenches, but by the strength of the systems they build. 

This shift is driven by network-powered leadership. In the old world, you built a kingdom with walls. In the new world, you build a node in a network. 

You don’t need to own every resource, you just need the vision to connect them. Your value is your ability to leverage the right people at the right time.

The engine behind this is global teams. 
The Sovereign Founder hires based on talent and resilience. By leveraging decentralized teams, they get high-performing talent, 24/7 operations, and massive cost efficiency.

It’s time to move toward a model where your business scales because of your leadership, not in spite of it.

I used to think that being everywhere at once was the only way to scale.

I was in every Slack channel, every meeting, and every minor decision.

"He who is everywhere is nowhere"

If your attention is spread across a hundred different "priorities," you aren't actually leading, you’re just drifting.

This Monday, I’m choosing to be "nowhere" for the small stuff so I can be fully present for the big moves. 

Where are you over-extending yourself this week?

Being a founder is the loneliest job in the world...until it isn’t.

Early on, it was just me and a laptop. 
Every win felt small because I had no one to share it with. 
Every loss felt like a mountain because I had no one to help carry it.

Today, my perspective has completely shifted. 

I’m looking at our Ambassador Program and realizing how my network has become a community of builders helping each other win, and that's what this program is about.

It’s a way to reward the founders and operators who are already out there helping their peers find better talent. And if you really want to know how this works, join the webinar I am hosting on March 26th.

Save your spot here and let's built together: https://lnkd.in/eM3sP3ny

I’ve seen it happen dozens of times. 

A founder friend tells you they’re drowning in hiring costs or can’t find a reliable developer, and you point them toward a solution because that’s just what we do as builders. You provide the value, they get the talent, and the cycle continues.

But at Outsorcy, we realized there was a way to actually reward that trust.

The Ambassador Program was built for people like you...founders and operators who have spent years building a reputation and a network. 

When you make a warm intro to us, you're opening a door to a model that has helped companies scale while saving hundreds of thousands in overhead.

Now you have the chance to see how this works for yourself.

On March 26th, me and Jim Trimarco are hosting a webinar to walk through the exact mechanics of how one simple email introduction can turn into a consistent, four-figure monthly income for you.

If you’ve ever wondered how to actually monetize your network without feeling like a salesperson, this conversation is for you.

Save a spot and let’s talk about it.
Link in comments.

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The Battle

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Greg Moran

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