GreenWave Advisors
GreenWave Advisors is a privately held, New York-based boutique financial research and advisory firm founded in 2014, providing independent cannabis-sector analysis, due diligence, valuation, and capital introduction services to institutional investors, family offices, and cannabis operators.
- Company typePrivate
- Founded2014
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What GreenWave Advisors does
GreenWave Advisors, LLC is a privately held, New York-based boutique financial advisory and research firm founded in March 2014 by Matthew A. Karnes, CPA. The firm specializes in independent financial research, analysis, and advisory services focused exclusively on the U.S. cannabis industry, targeting institutional investors (mutual funds, hedge funds, private equity, venture capital), family offices, high net worth individuals, investment banks, and cannabis license applicants and startups. Its core product is proprietary cannabis-sector research delivered through The GreenWave Buzz newsletter, an archived research library dating to the 2014 inaugural GreenWave Report, and topical analyses covering federal rescheduling, IRS Section 280E tax burden, multi-state operator (MSO) valuations, state-level market sizing, and capital markets reform. Beyond research, the firm offers buy-side and sell-side due diligence, valuation services, and capital introduction advisory through its GreenWave Capital Partners brand.
The firm's revenue model combines recurring subscription research, one-off report purchases, and professional services engagements (advisory, due diligence, valuation, and Cap Intro). Pricing is not publicly disclosed and distribution is restricted to qualified institutional and professional clients via the company website and direct relationships. Go-to-market is sales-led and relationship-driven, with no self-served digital acquisition motion; client acquisition relies on thought leadership content marketing (newsletter, blog, archived research), conference speaking engagements, earned media coverage in industry publications (MJBizDaily, Marijuana Moment), and organic social presence (LinkedIn, Twitter/X, Instagram). Webinars have been added as a mid-funnel engagement channel. The firm operates as an LLC, is not registered with FINRA or SIPC, and is not a registered broker-dealer or investment adviser, reflecting its positioning as an independent research provider rather than a regulated financial intermediary. With 1-10 employees and founder-led operations, the firm functions as a single-anchor-key-person practice whose value proposition rests on the founder's cross-functional finance pedigree and accumulated regulatory expertise accumulated over more than a decade operating in the federally restricted cannabis sector.
GreenWave Advisors firmographics
Firmographics- Name
- GreenWave Advisors
- Legal name
- GreenWave Advisors, LLC
- Website
- https://greenwaveadvisors.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- GreenWave Advisors is a privately held, New York-based boutique financial research and advisory firm founded in 2014, providing independent cannabis-sector analysis, due diligence, valuation, and capital introduction services to institutional investors, family offices, and cannabis operators.
- Ownership category
- akta.pro rank
GreenWave Advisors industry classification
Industry- Product category
- Financial Advisory and Investment Research
- NAICS
- Portfolio Management and Investment Advice (523940), Management Consulting Services (54161)
- SIC
- Investment Advice (6282), Services-Management Consulting Services (8742)
- akta.pro primary industry
- Industry & Sector Research (Syndicated/Custom) (BPAHALAE)
- akta.pro secondary industries
- Policy, Regulatory & Public Affairs Research (BPAHALAF), Fairness Opinions & Independent Financial Advice (BPAHAOAF)
Keywords
Where GreenWave Advisors is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
GreenWave Advisors business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Subscription Research and Analysis: The firm provides subscription-based access to ongoing research reports, proprietary analysis (The GreenWave Buzz), and archived research covering the cannabis industry. Clients include institutional investors, family offices, high net worth individuals, investment banks, cannabis license applicants, and startups. The research covers topics including federal rescheduling, 280E tax burden analysis, multi-state operator (MSO) valuations, market sizing, regulatory developments, and cannabis banking.
- One-off / Per-report Products: The firm offers individual research reports and white papers available for purchase or subscription, including archived research reports such as the inaugural 2014 GreenWave Report, Colorado market studies, and cannabis banking analysis. These are distributed as discrete products.
- Advisory and Consulting Services: Services include independent financial research, buy-side and sell-side financial analysis and due diligence, fund manager and direct investment due diligence, valuation services, and capital introduction (Cap Intro) advisory. These are likely billed as professional services engagements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Subscription research for qualified institutional clients |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
GreenWave Advisors product offering
Product offeringCore offering
GreenWave Advisors provides independent financial research, analysis, and advisory services focused exclusively on the U.S. cannabis industry. Its offerings include subscription-based proprietary research and The GreenWave Buzz newsletter, archived research reports on topics such as federal rescheduling, IRS Section 280E tax burden, multi-state operator (MSO) performance, and state-level market sizing, plus project-based advisory services covering buy-side and sell-side due diligence, valuation, and capital introduction.
Product overview
GreenWave Advisors operates as a cannabis-centric financial advisory and research firm founded in 2014, offering a suite of services including independent financial research and analysis, due diligence, valuation services, and capital introduction advisory. The firm's proprietary research is delivered through "The GreenWave Buzz" newsletter and archived research reports covering topics such as federal rescheduling, tax implications (280E), state market analysis, and capital markets reform. Services target institutional investors, family offices, hedge funds, private equity, cannabis operators, and license applicants seeking specialized analysis of the emerging cannabis industry.
Differentiator
Problem solved
Functional benefit
Products and services
- The GreenWave Buzz Proprietary subscription-based newsletter providing ongoing analysis and commentary on cannabis industry developments, regulatory changes, federal rescheduling, IRS Section 280E tax implications, and market trends, distributed via email to qualified institutional and professional subscribers.
- Archived Research Reports Library of past research reports, white papers, and in-depth analytical studies on the U.S. cannabis industry covering topics including federal rescheduling, IRS Section 280E tax burden, cannabis banking regulations, state-level market analysis (Colorado, California, New Jersey, Ohio, etc.), multi-state operator (MSO) valuations, and capital markets reform. Sold as one-off purchases or accessed through research subscription.
- Independent Financial Research and Analysis Core research offering providing independent financial analysis on cannabis industry companies, regulatory impacts (federal rescheduling, 280E), and market trends for institutional investors, family offices, HNWIs, and investment banks.
- Buy-side & Sell-side Financial Analysis and Due Diligence Advisory due diligence services assessing financial health and operational metrics of cannabis industry participants for fund managers and direct investors evaluating cannabis-related investments from both buy-side and sell-side perspectives.
- Valuation Services Professional valuation services for cannabis businesses, including financial, operational, and market analysis of multi-state operators (MSOs) and emerging cannabis market participants.
- Capital Introduction Advisory (GreenWave Capital Partners) Capital introduction advisory service (operated as GreenWave Capital Partners) that connects cannabis industry participants — operators, license applicants, and startups — with institutional investors and financing sources across the firm's investor network.
Companies that use GreenWave Advisors
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
GreenWave Advisors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
GreenWave Advisors partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights4 records
GreenWave Advisors competitors and assessment
Company assessmentDirect peers
- New Frontier Data: Cannabis-focused data, intelligence, and research firm producing syndicated market sizing and regulatory analysis. Closely comparable in serving institutional investors with sector-specific research and market data on the legal cannabis industry.
- Headset (formerly BDS Analytics): Cannabis retail and consumer data analytics platform serving CPG companies, operators, and investors. Comparable in providing proprietary market intelligence and analytics to institutional and operator clients in the cannabis space.
- MJBizDaily (MJBizCon): Leading cannabis industry trade publication and research provider offering market intelligence, operator surveys, and analytics. Comparable in delivering institutional-quality research and news on the cannabis industry to investors and operators.
- Viridian Capital Advisors: Cannabis-focused financial advisory and investment bank providing M&A, capital raising, and equity research. Directly comparable as a niche cannabis investment bank/advisor serving operators and investors.
- Whitney Economics: Cannabis industry economic research and consulting firm producing market sizing, fiscal impact studies, and policy analysis. Comparable in providing specialized cannabis sector research with policy and economic depth.
- Cannabis Benchmarks / Hemp Benchmarks: Provider of wholesale cannabis and hemp price benchmarks and market data. Adjacent comparable in producing proprietary, institutional-quality cannabis market intelligence for investors and operators.
- 8th Wonder (Cannabis Consulting): Cannabis strategy and operations consulting firm serving operators, investors, and license applicants. Comparable in providing advisory services to cannabis entrepreneurs navigating regulatory and capital markets complexity.
Emerging players
- Leafly: Consumer-facing cannabis information and data platform with growing B2B and investor-facing data products. Partial overlap with GreenWave's research mission, primarily consumer/retail data rather than institutional financial research.
Broad incumbents
- Canaccord Genuity (Cannabis Equity Research): Diversified investment bank with a dedicated cannabis equity research coverage universe. Overlaps with GreenWave's institutional cannabis research but as part of a broader full-service brokerage and capital markets franchise.
- Seaport Global Securities: Full-service broker-dealer with active cannabis equity research and corporate advisory practice. Overlaps with GreenWave's coverage of cannabis stocks and capital markets advisory but offers a much broader product set.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
GreenWave Advisors social profiles
Digital presenceGreenWave Advisors financial estimates
Financial estimateRevenue estimate
Valuation estimate
GreenWave Advisors leadership team
Management profileNumber of profiles
Profiles1 record
GreenWave Advisors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GreenWave Advisors M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GreenWave Advisors
What does GreenWave Advisors do?
GreenWave Advisors provides independent financial research, analysis, and advisory services focused exclusively on the U.S. cannabis industry. Its offerings include subscription-based proprietary research and The GreenWave Buzz newsletter, archived research reports on topics such as federal rescheduling, IRS Section 280E tax burden, multi-state operator (MSO) performance, and state-level market sizing, plus project-based advisory services covering buy-side and sell-side due diligence, valuation, and capital introduction.
Is GreenWave Advisors a public or private company?
GreenWave Advisors is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was GreenWave Advisors founded?
GreenWave Advisors was founded in 2014. It employs 1 to 10 people.
Where is GreenWave Advisors based?
GreenWave Advisors is headquartered in New York, United States, in the North America region.
How does GreenWave Advisors make money?
Three revenue lines are on record. Subscription Research and Analysis are the primary driver. The others are one-off / Per-report Products and advisory and Consulting Services.
Who are GreenWave Advisors's main competitors?
Direct peers on record are New Frontier Data, Headset (formerly BDS Analytics), MJBizDaily (MJBizCon), Viridian Capital Advisors, Whitney Economics, Cannabis Benchmarks / Hemp Benchmarks and 8th Wonder (Cannabis Consulting). Leafly is listed as an emerging player. Broad incumbents are Canaccord Genuity (Cannabis Equity Research) and Seaport Global Securities.
Does GreenWave Advisors have an API?
No public API is recorded for GreenWave Advisors.
What industry is GreenWave Advisors in?
GreenWave Advisors's product category is Financial Advisory and Investment Research. Its primary akta.pro industry code is BPAHALAE, Industry & Sector Research (Syndicated/Custom), with a secondary code of BPAHALAF, Policy, Regulatory & Public Affairs Research. Its NAICS code is 523940 and its SIC code is 6282.