Predict your next investment

Angel Investor (Individual)

See what CB Insights has to offer

Investments

54

Portfolio Exits

27

About Troy Carter

Troy Carter is the Founder, Chairman and CEO of Atom Factory, a music management brand. He has established the careers of artists, including Lady GaGa. He began his career in Philadelphia working for Will Smith and James Lassiter's Overbrook Entertainment. In 1995 he joined Bad Boy Entertainment where he worked in the marketing department under Sean "Diddy" Combs and worked with groundbreaking artists such as Notorious B.I.G. In 1999, Carter formed the boutique talent management company, Erving Wonder.

Troy Carter Headquarter Location

United States

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Troy Carter

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Troy Carter in 1 Expert Collection, including Vitamin & Supplement Startups.

V

Vitamin & Supplement Startups

237 items

Latest Troy Carter News

Legislation Filed in US House Would Create Expungement Process for Federal Cannabis Misdemeanors

Aug 1, 2022

Troy Carter introduced The Marijuana Misdemeanor Expungement Act July 29 amid renewed push for federal decriminalization. August 1, 2022 Federal cannabis policy reform efforts have gained momentum this year; the U.S. House approved the Marijuana Opportunity Reinvestment and Expungement (MORE) Act for the second time in April and signed off on the Secure and Fair Enforcement (SAFE) Banking Act for the seventh time last month, while Senate Majority Leader Chuck Schumer, D-N.Y., formally introduced his long-awaited Cannabis Administration and Opportunity Act (CAOA) July 21. Now, lawmakers are taking steps to ensure that past federal cannabis-related misdemeanors can be expunged. Rep. Troy Carter, D-La., introduced The Marijuana Misdemeanor Expungement Act July 29 to create a federal expungement process to clear non-felony offenses, according to a press release from Carter’s office. Carter said the legislation, which is co-sponsored by Rep. Rodney Davis, R-Ill., “will restore justice to millions of Americans who have suffered inordinate collateral consequences associated with marijuana-related misdemeanors.” “These misdemeanors—even without a conviction—can result in restrictions to peoples’ ability to access educational aid, housing assistance, occupational licensing and even foster parenting,” Carter said in a public statement. “Delivering justice for our citizens who have been impacted by marijuana-related misdemeanors is a key component of comprehensive cannabis reform.” “Given the number of states, like Illinois, where marijuana has long been legalized for adult-use, we must ensure that our criminal justice system keeps pace so that individuals with low-level misdemeanor violations related to its use does not preclude them from getting jobs and participating in society,” Davis said in a public statement. Industry advocates applauded the bipartisan legislation Friday. “The National Cannabis Roundtable and our members are committed to cannabis reforms that right past wrongs and advance social equity,” Saphira Galoob, executive director of the National Cannabis Roundtable, said in a public statement. “The Marijuana Misdemeanor Expungement Act does just that. We applaud Rep. Carter for his strong leadership on cannabis reform, and we wholeheartedly support this landmark legislation.” “This landmark legislation will allow countless Americans to move forward with their lives, remove an impediment to economic progress and restore the ability to maximize their full potential—both for themselves and their families,” Roz McCarthy, founder and CEO of Minorities 4 Medical Marijuana (M4MM), said in a public statement. “Addressing the negative societal and economic effects permeated by marijuana prohibition at both the federal and state level will be critical as we seek to deliver comprehensive cannabis reform in this country. I want to thank Rep. Carter for introducing The Marijuana Misdemeanor Expungement Act, support expeditious movement through the procedural process and I look forward to working with them to move this bill forward in the weeks to come." The Cannabis Center of Excellence wants to know: Are veterans being served by the legal market? August 1, 2022 Earlier this month, the Cannabis Center of Excellence (CCE) launched a research project to identify the ways in which U.S. veterans use medical cannabis. The Massachusetts-based nonprofit set out to determine where gaps might exist for veterans interested in accessing legal cannabis products in the state—and whether there may be opportunities to improve their lot. The CCE is working with Patriots Helping Vets, licensed cultivator Gibby’s Garden and the University of Massachusetts Dartmouth Institutional Review Board to complete the project. The groups are looking for 450 qualifying veterans in Massachusetts to sign up . Here’s what happens next: “After completing a baseline survey, veterans will be able to purchase [at a discount] a cannabis product bundle consisting of Gibby’s Garden products and one of the four retail outlets in Massachusetts. The bundle includes two ? ounces of cannabis flower, 2 strains of pre-rolls, and 15 ml of cannabis tincture. As part of the research study, veterans will be asked to report on access to cannabis issues, product(s), and its impact on their health and wellness via paper-based forms or a mobile medical cannabis app called Tetragram.” The idea is to bring veterans together and then provide a streamlined point of access to medical cannabis products. The Gibby’s Garden bundle will give each veteran a small variety of products to check out; from there, the individual note-taking will help direct the research. The project came together in the wake of a 2019 study on veterans’ cannabis consumption. According to CCE President Dr. Marion McNabb, 76% of the veterans from that 2019 study reported that medical cannabis was helping improve their quality of life, while also helping them to reduce unwanted use of prescription or over-the-counter medications. The top conditions they were treating included chronic pain, PTSD, anxiety and depression. A similar number of respondents said at the time that, yes, their VA health care provider was aware of their cannabis use. But almost all of those respondents followed up to say that, no, it wasn’t very clear whether the VA supported cannabis consumption at all. McNabb said that was the first gap identified by research: an education gap. The bigger problem was the access gap. “We also, in that survey in 2019, asked, ‘What are the major barriers for you accessing medical cannabis?’ And the number one barrier was costs related to purchasing and accessing the product consistently. Second was the cost to access a medical card. Another interesting barrier, which was probably about fourth or fifth down the list, was owning a firearm, and this is really important for a veterans, too.” As adult-use markets come online and proliferate across the U.S., the question of basic access to cannabis can easily get lost in the broader conversation about the development of the industry itself. McNabb is a member of the Massachusetts Cannabis Advisory Board (and chair of the board’s research subcommittee), and one goal on the board’s table is the “deverticalization” of medical cannabis in the state. Adult-use cannabis businesses in Massachusetts are allowed to hold down a one-off license, like a retail license or a cultivation license. Medical cannabis businesses must be vertically integrated: a financial barrier to business that can easily trickle down and become a financial barrier at the patient level. Understanding medical cannabis patient needs—specifically veterans’ needs—is one way to accelerate that proposed regulatory reform and ameliorate any access issues for patients across Massachusetts. McNabb wants to do away with the anecdotal evidence that adult-use markets, when they materialize, outpace and overshadow medical markets. “I've traditionally looked at the adult-use market as a little shortsighted for overstepping the medical cannabis market,” McNabb said. “Why? Because medical cannabis patients are chronic patients. They're customers that will come in everyday because they need your medicine and they need consistent medicine. In an adult-use market, you have to invest money into marketing approaches.” The immediate goal of the veterans access research project is to better understand just that: veterans’ access. But a deeper narrative may emerge, which would provide regulators a more detailed perspective on how the medical cannabis market works. First comes the research, though, which means that veterans across the state will be carefully logging their experiences with medical cannabis grown in Massachusetts. While the researchers offer a pen-and-paper format for note-taking (acknowledging the wide range in ages and technological know-how among the subjects), Tetragram’s digital interface is an important part of this project. The app was developed and founded by Otha Smith, who set out to give patients and consumers alike a clearer picture of their own individual cannabis use. Tetragram provides helpful templates for users to track their consumption—and, more to the point, the effects of that consumption. After purchasing a new live rosin cartridge, say, a consumer can then go home and try it out, keeping track of THC content and terpene profiles and, inevitably, the suite of effects. Relaxation? Euphoria? High-quality sleep? Having that data, according to Smith, allows consumers to become better educated about cannabis and their own endocannabinoid systems, leading to more targeted and nuanced purchasing habits at the dispensary. Since launching the app in 2020, Smith has noticed a significant veteran population logging their experiences. “They see the true benefit of cannabis,” he said. “This [research] will be a telling sign to show how beneficial cannabis is.” While it’s too early to get into even preliminary results from this project, Smith said that veterans have shared insightful reports on the app thus far. Most often, he said, veterans reported finding success with lower-dose 1:1 gummies, which might include 5mg of THC and 5mg CBD. Those products tend to be easier on a patient who might otherwise not feel comfortable with a higher THC dosage and the possibility of anxiety taking hold. Within the Tetragram interface, veterans (and anyone else) can track the specific cannabinoid and terpene profiles that led to desired outcomes, like a sense of calm or a restful night’s sleep. This is helpful, if only because an emerging understanding of the cannabis plant leads the industry to believe that, in fact, THC alone is not the most relevant indicator of a product’s effects. “It’s not about just THC—it’s about that composition,” Smith said. He pointed to similar projects, like We Decode , which provides genome sequencing services to align specific cannabis product formulations with an individual’s genetic disposition. This personalized approach, he said, may be the next step for anyone who keeps good data about his or her own cannabis consumption. Results from the Massachusetts veterans access research project will be shared at the conclusion of the study, and already the CCE has additional projects in mind for cannabis patients and consumers. “This is part of a larger program … to allow cannabis, consumers, patients and now veterans to connect with cannabis brands—to study, to create research partnerships and to create education partnerships,” McNabb said. During the House AgricultureCommittee Subcommittee hearing on hemp July 28, industry professionalsaddressed the U.S. Food and Drug Administration’s (FDA) lack of regulation onCBD and hemp-derived compounds. House Agriculture SubcommitteeMembers, U.S. Hemp Roundtable (USHR) Vice President and CEO of Kentucky-basedEcofibre, Eric Wang, and Kentucky Commissioner of Agriculture, Ryan Quarles,all testified during the  hearing , which “aimed to explore opportunities to improve thecurrent rules on hemp production,” according to a USHRpress release. The 2018 Farm Bill, whichlegalized hemp at the federal level, is set to expire in 2023. (The farm billexpires and is updated every five years). Wang and Quarles’ testimonies bothurged Congress to regulate CBD and other hemp-derived compounds in the upcoming2023 Farm bill, adding that the FDA’s inaction on regulating such products isnegatively impacting the industry, according to the release. “The hemp industry has beenseverely hampered by the slowness of the federal Food and Drug Administrationto create a regulatory pathway for hemp-derived cannabinoids, particularlycannabidiol,” Quarles said during his testimony. “Without clear direction fromFDA regarding products containing hemp-derived CBD, large retailers will notcarry the products and many business leaders are reluctant to move forward withthe development and manufacture of CBD-related products. That reluctance, inturn, has dampened industry demand for harvested hemp material.”    “In passing the 2018Farm Bill, Congress made clear its intent to support the production and sale ofhemp and hemp derivatives such as CBD. Thousands of U.S. growers planted hempin response, with farming for CBD representing most of all hemp acreage,” Wangsaid in his testimony. “However, public statements by FDA officials statingthat it is unlawful to sell ingestible hemp-derived CBD products have takentheir toll on the industry. CBD commerce and investment have been chilled dueto continued inaction at the federal level, impairing economic opportunity forAmerican farmers.”   Wang also noted that the lackof regulation impacts consumer's’ safety, as many companies sell productswithout appropriate safeguards and misleading claims. “Some struggling farmers andbusinesses have pivoted to market intoxicating products such as delta-8,prompting FDA and CDC warnings that they pose significant consumer health andsafety risks, particularly for minors,” Wang said. “A clear regulatory pathwayfor CBD would not only relieve the economic pressure that is leading to thisproduct shift, but it would also help ensure products do not containintoxicating hemp ingredients.” Wang also asked Congress toinclude language from H.R. 841 in the upcoming farm bill that would regulateintoxicating hemp and CBD products as dietary supplements, according to therelease. Quarles also suggested changes to The Hemp Advancement Act, whichincluded raising the THC limit allowed in hemp from 0.3% to 1.0%. “It would be appropriate forthe new 1.0% limit to include not only delta-9 THC, but every other THC isomerwhich could have an intoxicating effect on consumers, including withoutlimitation synthetically created delta-8, delta- 10, delta-7, HHC, and others,”Quarles said. “Embracing a ’total THC’ standard instead of a ’delta-9 THC only’standard will establish a threshold which better reflects the material’s trueintoxicating potential.”  Panel leaders Rep. Jim Baird,Glenn Thompson, and Stacey Plaskett all agreed with Quarles and Wang’stestimonies. “We’ve heard a lot of greatrecommendations for the 2023 Farm Bill here, and one that I’d like to add isthat the FDA hasn’t really had any kind of regulatory framework forhemp-derived CBD, so I would encourage us to include that in our discussionsabout the 2023 Farm Bill,” Baird said. And Plaskett responded,“Thank you, and I agree wholeheartedly with that assessment.”

Troy Carter Investments

54 Investments

Troy Carter has made 54 investments. Their latest investment was in Bitski as part of their Series A on May 5, 2021.

CBI Logo

Troy Carter Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/6/2021

Series A

Bitski

$19M

Yes

17

4/28/2021

Seed VC

Lobus

$6M

Yes

5

2/17/2021

Seed VC

Therabody

Yes

3

10/7/2020

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

5/13/2020

Series A

Subscribe to see more

Subscribe to see more

10

Date

5/6/2021

4/28/2021

2/17/2021

10/7/2020

5/13/2020

Round

Series A

Seed VC

Seed VC

Seed VC

Series A

Company

Bitski

Lobus

Therabody

Subscribe to see more

Subscribe to see more

Amount

$19M

$6M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

17

5

3

10

10

Troy Carter Portfolio Exits

27 Portfolio Exits

Troy Carter has 27 portfolio exits. Their latest portfolio exit was FaZe Clan on July 20, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/20/2022

Reverse Merger

$99M

4

12/20/2021

Acquired

$99M

28

9/29/2021

IPO

$99M

Public

7

9/16/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

3/30/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

7/20/2022

12/20/2021

9/29/2021

9/16/2021

3/30/2021

Exit

Reverse Merger

Acquired

IPO

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Subscribe to see more

Subscribe to see more

Sources

4

28

7

10

10

Troy Carter Acquisitions

1 Acquisition

Troy Carter acquired 1 company. Their latest acquisition was Laufer Media on August 04, 2015.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/4/2015

$99M

Acquired

3

Date

8/4/2015

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

3

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.