Dutchie LLC, a hashish sector payment services company backed by high-driven traders, has employed John Kelleher as its typical counsel.
Kelleher comes to Dutchie soon after much more than a ten years as lawful main for HubSpot Inc., a sales software program firm he joined in 2012 and helped consider public two many years later. Kelleher still left Cambridge, Mass.-based HubSpot as of Sept. 6 but will help in the look for for his successor, according to a securities filing.
Dutchie was valued at $3.75 billion past calendar year following completing a $350 million Series D fundraising. The Bend, Ore.-dependent company’s backers contain asset management big Tiger World wide Management LLC and Casa Verde Funds LLC, a cannabis expense firm co-launched by the rapper Calvin “Snoop Dogg” Broadus Jr.
Cannabis is authorized for both equally leisure and medicinal use in Canada and a expanding variety of US states. It has not been legalized at the federal stage in the US and is amid the a lot more very controlled substances in North The usa.
Dutchie’s legal, govt affairs, and compliance teams function intently collectively to navigate challenges like traceability, taxes, and invest in boundaries, Kelleher reported.
“It’s core, it’s essential to the firm,” said Kelleher of helping consumers “meet their compliance obligations” throughout a shifting regulatory landscape.
Kelleher, 57, mentioned a confluence of elements drew him to privately held Dutchie, which includes that he’ll be in a position to do the job remotely from his property in the Boston place.
He joined Dutchie, regardless of acquiring no experience—either individually or professionally—in the legal weed room, Kelleher said. He spoke with household users employing hashish to offset the aspect effects of chemotherapy treatment plans for cancer.
“There’s a mission-driven component that I love,” mentioned Kelleher about his new career.
At HubSpot, Kelleher earned more than $2.7 million in whole payment last calendar year, for each the company’s most new proxy statement. He now owns approximately $16 million in HubSpot stock, according to Bloomberg information.
He earlier invested approximately 9 a long time as normal counsel for Endeca Technologies Inc., a software organization offered for $1.1 billion in 2011 to Oracle Corp. The shut-knit know-how scene in Boston—Kelleher jokingly named it “incestuous”—saw Endeca’s co-founders start out Toast Inc., a restaurant software startup whose previous main enterprise officer, Tim Barash, is now government chairman at Dutchie.
Kelleher connected with Barash, whose brother, attorney Bryan Barash, now serves as Dutchie’s head of public policy, system, and compliance, as well as Ross Lipson, Dutchie’s co-founder and chief govt.
The executives explained to Kelleher that Dutchie is dedicated to social justice and a pure enjoy know-how enterprise that is not “plant touching,” he claimed, alternatively furnishing the e-commerce infrastructure for cannabis dispensaries to market and supply their products and solutions.
“We make the tools so they can properly and lawfully sell cannabis in a compliant way,” Kelleher explained.
Kelleher succeeds Dutchie’s initial-ever common counsel, former Wachtell, Lipton, Rosen & Katz associate Lauren Thomas. She remaining the organization in January to take the major authorized job at online market Faire Wholesale Inc.
Goodwin Procter encouraged Dutchie on its most latest Collection D fundraising round in Oct 2021. Kelleher said Goodwin, whom he beforehand worked with at Endeca and HubSpot, does most of Dutchie’s company function. Boston-centered Goodwin companions Gregg Katz and Joseph Theis Jr., equally of whom are aspect of the firm’s know-how apply, spoke with Kelleher prior to he moved to Dutchie, he explained.
“It’s excellent to have that crafted-romantic relationship and relationship with outside counsel,” Kelleher stated. Other law corporations symbolizing Dutchie contain Perkins Coie and Vierra Magen Marcus, a Daly Metropolis, Calif.-based mostly mental property boutique.