Team Spotlight: AnnaRae Grabstein
By: JourneyOne Ventures
AnnaRae Grabstein is an executive and advisor with a legacy of leadership in the cannabis industry. Her career leading experience has spanned roles such as CEO, COO, founder, entrepreneur and industry advocate. Her extensive accomplishments in cannabis have made her a key player in the legal cannabis industry where she has led, operated and guided innovative and market leading companies; building and scaling businesses to fulfill market needs that did not exist during prohibition and in a highly regulated and complex environment.
The infinite potential of the cannabis industry inspires AnnaRae in her quest to create and increase impactful opportunities in the industry both in her home market of California and in all the emerging markets across the US.
Currently her firm, Wolf Meyer, works to grow, scale and expand the cannabis industry with strategy, vision and leadership. AnnaRae’s career highlights include being the Chief Compliance Officer of NorCal Cannabis, one of the largest vertically integrated companies in California, CEO of Steep Hill, the first ever cannabis analysis laboratory, and COO of Marin Sun Farms, a values driven meat processor, brand and distributor.
She was an elected member of the California Cannabis Industry Association (CCIA) Board of Directors where she served amongst the top executives in the cannabis industry to help realize a thriving legal cannabis marketplace. She is also a Board Member of Higher Growth, a fintech startup working to bridge solutions in cannabis banking and Chemistry, an innovative cannabis brand and manufacturing company.
Outside of cannabis, AnnaRae is a long time Board Member of WWOOF USA, a non profit that creates educational opportunities on organic farms, and is a founding member of Chief the only network dedicated to growing women in c-suite and board roles. She holds an MBA from the University of San Francisco.
What attracted you to the cannabis industry?
What didn’t attract me to the cannabis industry is the better question! Initially it was my rebellious and adventurous spirit that brought me to the plant but ultimately my ambition and passion to create real impactful opportunities that brought me to work in this industry.
In my life, one of the most motivating things for me has been when people have told me NO or underestimated me and I looked at cannabis prohibition as a big huge NO that I wanted to prove wrong. Plus, I love to unwind and solve complex problems and there are a lot of challenges for cannabis business with huge opportunities on the other side of the equation.
What drew you in to join JourneyOne?
As a first time entrepreneur early in my career, I didn’t fully understand the power and privilege of capital. Thirteen years later, I have been a C-suite operator across 3 businesses and now have an acute understanding of the importance of good capital and great financial partners. With that said, I’m really excited to have joined the J1 team to build positive outcomes and outsized returns for our portfolio companies and LPs. I’m thrilled to allocate capital to leaders who are building and operating businesses that I believe will be market leaders. In addition, Helene really caught my attention with her inclusive approach, appreciation for talent & innovation, and informed decision making paired with fearlessness. Most importantly, we know how to have a good time while making BIG moves.
What do you think is the most exciting potential cannabis application?
It’s all exciting! My 5 year old is always asking me what is my favorite ___ [fill in the blank]. And the truth is, I don't usually have one favorite or think one area of cannabis is the most compelling. I’ve worked across the supply chain and the ecosystem of different business types and products, which all need each other in order to chart a successful path forward. I think we are still at the beginning of a very dynamic future where cannabis will have a broad positive impact, and I’m proud to be part of this journey.
What are the 3 most important skill sets that a cannabis founder should have for success?
Self awareness – a deep knowledge of oneself, your values and your impact on others so that you can truly lead. Some hallmarks of self-awareness are self-confidence and a thirst for constructive criticism.
Motivation – a relentless desire to build and achieve in the face of changing and challenging circumstances. Some hallmarks of motivation are possessing a true and authentic passion for the work, optimism in the face of obstacles, demonstrating continued learning, and up-leveling as the business evolves.
Business fundamentals – having a holistic understanding of the entirety of the business across operations, finance, strategic partnerships, HR and policy.
What are your favorite cannabis products?
I just got back from Washington State and I love the new vapes that Dewey Cannabis has launched. The flavor was great and for me it is all about the flavor! At home in California, I love flower from Sonoma Hills Farm, the Project Fusion infused pre rolls from Chemistry, and the Peach Prosecco gummies from Garden Society.