Frontier Markets Unlocked

KEY Investment Partners LLC
  • 5.0 (33)
  • Investing

Frontier Markets Unlocked, a podcast from KEY Investment Partners, explores investment opportunities across defense, energy, aerospace, quantum technology, and cannabis. We examine how technology, regulation, and shifting global priorities shape these markets and the businesses being built within them. Through conversations with founders, operators, investors, and policy experts, we dig into how companies win customers, finance growth, and build a competitive advantage.

  1. 20h ago

    Michael Drozd - CEO of ACT Laboratories

    In this episode of #FrontierMarketsUnlocked, Michael Drozd, CEO of ACT Labs, sits down with Jordan Youkilis to discuss the infrastructure behind cannabis compliance and what it takes to build a testing business inside one of the most cash-constrained industries in the country. After earning his MBA from Stanford and an engineering PhD from Duke, Michael gained experience in the food and medical testing space. Michael started his first company in the food industry, eventually getting recruited into the cannabis space by Eurofins in 2015 to help launch their cannabis testing operation. When the federal regulations prevented this publicly traded company from building their testing lab in Colorado, Michael pivoted to hemp testing, building his new company into the largest hemp tester in the country. He later ran a publicly traded drone company before finding his role at ACT four years ago as CEO. From here, the conversation dives into how cannabis testing is structured and where the friction is. Michael breaks down why the majority of testing is compliance-driven, seen as a necessary step to get product on a shelf, and why cash-constrained operators rarely have the runway to invest in proactive environmental monitoring or yield optimization that could benefit them long-term. Michael and Jordan then cover the patchwork of state regulators versus federal standards and the problem of "dry labbing" with potency inflation across the industry. When it comes to what ACT tests for day-to-day, Michael walks through the key categories: potency, cannabinoids, heavy metals, microbiology, residual solvents, pesticides, and terpenes. To close, Michael shares ACT's growth strategy, preferring acquisitions over greenfield labs, with strong interest in markets like Ohio, New York, Maryland, and New Jersey, and explains why he expects large institutional players like Eurofins to re-enter the US cannabis testing market within the next two to three years as the regulatory environment continues to evolve. Enjoy! Tiby Erdely III Pete Karabas #FrontierMarketsUnlocked #CannabisCompliance #CannabisIndustry #CannabisInvesting #LabTesting #Cannabis

  2. Jul 28

    Seth Yakatan - Co-Founder of Katan Associates International & Ordo Verde

    Tiby sits down with longtime cannabis investor and advisor Seth Yakatan for a candid discussion on the state of the industry - what is working, what is not, and where the next opportunities may emerge. They cover the growing importance of cash flow and capital discipline, successful operators and business models, the role of debt, Schedule III, international trade, public-market uplistings, and what cannabis companies must demonstrate to attract increasingly selective capital. Seth also shares why he remains optimistic about consolidation, institutional investment, and the industry’s next phase of growth.Enjoy!

  3. Jul 16

    Seth Schorr - CEO of Fifth Street Gaming

    In this episode of Cannabis Unlocked, Jordan Youkilis sits down with Seth Schorr, CEO of Fifth Street Gaming. They discussed the growing overlap between the casino and cannabis industries and why Las Vegas may be uniquely positioned to bring the two together. Seth has run Fifth Street Gaming in Las Vegas for nearly 20 years and brings a veteran operator's perspective on how the city's gambling industry keeps reinventing itself, from a shift toward full resort experiences in the late '90s to the rise of mobile sports betting after PASPA's repeal, and the constant churn of disruptors, from DraftKings and FanDuel to today's prediction markets. As a Nevada gaming licensee, Seth can't be directly involved in cannabis, but he offers a candid outside view: Nevada's early, high-performing market , rising interest from alcohol and tavern operators in hemp beverages, and his own work helping regulators and operators explore bringing cannabis consumption on-premise at casinos, an idea still tangled up in federal restrictions but gaining real momentum. They close by looking ahead to Las Vegas's next chapter: an incoming MLB team, a potential NBA expansion team, and why The Sphere remains the city's biggest innovation in a decade. Enjoy!

  4. Jul 9

    Frederico Gomes - Director, Institutional Research, Life Sciences at ATB Cormack Capital Markets

    In this episode of #CannabisUnlocked, Tiby Erdely sits down with Frederico Gomes of ATB Cormark Capital Markets to discuss why this moment in cannabis feels materially different than prior reform cycles - and why investors may finally be approaching a new institutional capital cycle. Frederico has covered the cannabis sector for more than seven years across U.S. MSOs, Canadian LPs, retailers, and ancillary operators. Having lived through the 2019 boom, a brutal bear market, and multiple federal reform false starts, he brings a seasoned perspective on what is real, what remains uncertain, and what could drive the next major leg of value creation. Fred and Tiby dive into the rapidly developing Schedule III rescheduling process, the potential timing and structure of a final rule, and why the biggest risks may be delay, litigation, and implementation - not whether cannabis ultimately moves forward. Fred explains how rescheduling could lower the cost of capital, improve cash flow, support institutional re-entry, and create a clearer path for industry leaders to emerge. The conversation then turns to valuations, uplisting, consolidation, SAFER Banking, and the rumored hemp ban. Fred discusses why many operators still trade at distressed multiples despite improving catalysts, and why exchange uplistings, cheaper capital, and limits on intoxicating hemp could drive sales growth, pricing stability, margin expansion, and renewed M&A. In closing, Tiby and Fred shift to Canada and the global cannabis opportunity, including how Canadian operators have evolved after their own boom-and-bust cycle, why Germany and international exports have become major growth drivers, and how U.S. operators may eventually participate in global markets.  With rescheduling hearings underway, SAFER Banking back in the conversation, intoxicating hemp under pressure, Canadian names moving, and institutional investors beginning to revisit the sector, this episode captures one of the most important cannabis inflection points in years. Enjoy!

  5. Jun 30

    Bill Kirk - Managing Director at ROTH Capital Partners

    In this episode of #CannabisUnlocked, Jordan Youkilis sits down with Bill Kirk, Managing Director at ROTH Capital Partners, to discuss what institutional capital markets are waiting for before they move meaningfully into cannabis and why the investment window may finally be opening. Bill's path to cannabis started by working at a dispensary while pursuing professional baseball. After retiring, he pivoted his focus to finance where he covered the beverage and retail industries, ultimately working with MKM Partners (later ROTH Capital Partners) in 2019.  Bill and Jordan dive into how the top MSO stocks have been overlooked as if they were the same but with rescheduling/uplisting on the horizon the differences between these businesses is now more respected than ever. Bill explains that uplisting could immediately double trading volume, and create the conditions for passive index inflows that have never existed in the sector before. Bill then walks through how a potential ban on intoxicating hemp could benefit regulated cannabis operators by shifting the competitive landscape against hemp and beer distributors. In closing, Bill and Jordan discuss the SAFE Banking Act's bipartisan reintroduction, the upcoming adult use rescheduling hearing, and why this moment feels different. Enjoy! #CannabisUnlocked #CannabisInvesting #Rescheduling #CapitalMarkets #MSO #CannabisIndustry

  6. May 13

    Nasos Makriyiannis

    In this episode of Cannabis Unlocked, Jordan Youkilis sits down with Nasos Makriyiannis, President of The KOMAND Group, to discuss the evolution of the global cannabis market and why Europe is quickly becoming one of the industry’s most important long-term opportunities. Nasos shares his path from healthcare consulting into cannabis M&A and explains how KOMAND Group became one of the earliest North American advisory firms operating across European markets ( The KOMAND Group works closely with Broderick Capital (www.broderickcapital.ca)) on cross-border transactions. From here, Nasos breaks down how the Canadian market evolved from post-legalization exuberance and oversupply into a globally optimized export hub supplying emerging medical markets abroad. The conversation explores the accelerating momentum across Europe particularly in Germany following deregulation and why international operators are increasingly focused on supply chain positioning, regional partnerships, and scalable distribution strategies. In close, Nasos and Jordan discuss the challenges that still remain around capital formation, the growing role of family offices and strategic investors, and how Schedule III momentum in the U.S. could reshape international participation over time. Enjoy!

  7. Apr 2

    Jared Maserk - CEO of Baked Bags

    In this episode of Cannabis Unlocked, Jordan Youkilis sits down with Jared Maserk, CEO of Baked Bags, to explore the rise of digitally native hemp brands and the challenges of building in an uncertain regulatory environment. Jared shares his journey from cannabis sales in the early days of cannabis to becoming CEO of Baked Bags, a hemp brand that has scaled rapidly by leaning into social media, unique product formats, and a direct-to-consumer mindset. What began with innovative edible cones has evolved into a broader portfolio designed to stand out in a crowded, fast-moving market. Jordan and Jared dive into the realities of operating in the hemp-derived THC space, the looming regulatory crackdown tied to the 2018 Farm Bill and how Baked Bags is preparing for potential disruption. Jared discusses the importance of staying agile, whether that means exploring new markets, experimenting with emerging product categories like beverages, or maintaining a capital-efficient, cash-flow-positive business model. The conversation is a candid look at resilience, creativity, and what it takes to build a brand at the intersection of culture, content, and cannabis. #CannabisUnlocked #CannabisBrands #THC #StartupJourney #CannabisIndustry

  8. Mar 12

    Elliot Lane - President & Co-Founder of Igniteit Inc

    In this episode of Cannabis Unlocked, Jordan Youkilis sits down with Elliot Lane, President and Co-Founder of Igniteit Inc, to discuss the evolving role of media, events, and investor education in the cannabis industry. Elliot shares his unconventional path, from studying music and acting in New York to ultimately entering the cannabis world through Benzinga. What began as an effort to build investor-focused editorial content through Benzinga quickly revealed a growing need for education and community within the sector. That realization eventually led to the creation of Igniteit, a platform focused on connecting operators, investors, and regulators through high-value events and curated industry conversations. This conversation explores why meaningful content and education have become critical in a market where capital is tighter and operators must be more strategic. Elliot explains how Ignited’s conferences and their new Spotlight Series are designed to bring together influential voices from CEOs and financial institutions to regulators to reflect the unique challenges and opportunities within each state market.  Please Enjoy! #CannabisUnlocked #CannabisEvents #CannabisInvesting #IndustryLeadership #CannabisIndustry

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About

Frontier Markets Unlocked, a podcast from KEY Investment Partners, explores investment opportunities across defense, energy, aerospace, quantum technology, and cannabis. We examine how technology, regulation, and shifting global priorities shape these markets and the businesses being built within them. Through conversations with founders, operators, investors, and policy experts, we dig into how companies win customers, finance growth, and build a competitive advantage.

Information

  • Creator
    KEY Investment Partners LLC
  • Years Active
    2021 - 2026
  • Episodes
    93
  • Rating
    Clean
  • Copyright
    © KEY Investment Partners LLC
  • Show Website
    Frontier Markets Unlocked