Kevin Durant Joins Weed Company's Advisory Board
- Jeremy Garner
- Nov 10, 2020
- 2 min read
November 28, 2019
Kevin Durant and Rich Kleiman’s startup Thirty Five Ventures is on its second cannabis-related venture by joining the venture capital firm, Canopy River’s, strategic advisory board.
“We’re thrilled to have Thirty Five Ventures join the Canopy Rivers team,” Narbé Alexandrian, President and CEO of Canopy Rivers said, citing Kevin Durant and Rich Kleiman’s investment portfolio which has helped several successful tech and cannabis companies grow. “
We’re excited to combine our venture capital knowledge and cannabis domain expertise,” Alexandrian continued, “and we believe this partnership will drive success for our portfolio as we continue to grow in the years ahead.”
Canopy River is not Thirty Five Venture’s first foray into the world of cannabis. They started with an investment into Dutchie, an online cannabis delivery service.
A service that works in much the same way as another of Thirty Five’s investments: Postmates. But, investing into Canopy Rivers allows Kevin Durant and Rich Kleiman the opportunity to expand into the Canadian cannabis market.
According to Rich Kleiman, Thirty Five Ventures chose to partner with Canopy Rivers because, as he said, “We’ve recognized that Canopy Rivers has taken a data-backed approach to map out That data, according to Alexandrian, has led Canopy Rivers to the conclusion that cannabis is becoming an industry of niche segments such as: sleep, recovery, sports, and wellness.
Durant and Kleiman’s expertise in sports and entertainment fit well with Canopy River’s view on where the cannabis industry is headed. However, in an interview with Forbes, Alexandrian’s first point was Thirty Five’s successful investments in the tech sector.
The joining also comes just after the MORE act was approved, which you can learn about here.
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