about us
Coda Capital Advisors is a niche alternative investment firm that is dedicated to bringing institutional capital into the US Cannabis Industry. Our mission is to provide efficient and effective capital allocation, not only based on sponsor and market credit fundamentals, but also on investor capital risk/reward profiles.
At Coda, we have spent years studying the unique challenges of the cannabis industry and have developed a unique approach to underwriting each investment opportunity. As an owner operator as well, our team leverages decades of operational and investment experience to develop valuable insights that allow us to effectively mitigate risk and allocate capital efficiently to the industry.
We have spent years developing strong relationships with the financial institutions that are banking the space and are uniquely positioned to offer tailored financial solutions that drive growth and value. Our goal is to invest in enduring cannabis businesses and to deliver above-average risk-adjusted returns for our investors.
Brendan Fay
Chief Investment Officer
Mr. Fay is a skilled investment manager with over 20 years of experience raising and deploying capital in niche alternative investments. Prior to joining Coda Capital, Mr. Fay was a Senior Vice President at nationally recognized student housing investor Campus Apartments, where he successfully managed their $2bn student housing portfolio. Mr. Fay was responsible for the performance of multiple investment vehicles including two closed-end funds, private accounts, and single investor pools. In this capacity, Mr. Fay designed and implemented an institutional investment process from original due diligence to disposition at both the deal and fund levels. Additionally, he oversaw Campus Apartments’ property management company, which provided critical insights into best practices for low-margin operating businesses.
Prior to Campus Apartments, Mr. Fay was the Head of Special Situations for Doral Bank where he restructured and sold a $1bn portfolio of non-performing loans secured by commercial real estate in Puerto Rico. At Doral Bank, he was responsible for all aspects of the workout process including restructuring, foreclosing, and, ultimately, disposition. His portfolio was ultimately sold to a TPG backed private equity firm.
Mr. Fay started his career in the investment banking program at Bank of America where he completed their intensive credit analyst program. At BofA, Mr. Fay originated, underwrote, and securitized over $250MM of conduit mortgages secured by various real estate.
Roles and ResponsibilityAs CIO, Mr. Fay is responsible for the overall investment process from origination to dispositionIn such capacity, he will oversee all investment and fund level decisions.
EducationGeorgetown University: Bachelors in Economics and Mathematics (BA/BS)
Columbia Business School: Masters in Business Administration (MBA)
J.T. Culp
Investment Analyst
Mr. Culp is a skilled investment research analyst, with experience covering global macro economies, US equities, commodities, bonds, and enterprise software for Hedgeye Risk Management and Tenjin AI. While at Tenjin, Mr. Culp led a team of interns to start the firm’s in-house qualitative research team to complement the core AI models driving Tenjin’s investment products. Mr. Culp also worked closely with the CEO and CTO to construct thematic portfolios, including cannabis. During his time at Hedgeye, Mr. Culp worked on both the Macro and Technology research teams, where he analyzed global equities, bond markets, economic indicators, commodities, and monetary policy to create research products and investment recommendations for clients.
While at Bentley University, Mr. Culp was a member of the Bentley Investment Group (BIG), which managed ~$1.25MM of the University’s endowment. Within BIG, Mr. Culp served as the Portfolio Manager of the Materials and Industrials sectors. In this role, he led a team of analysts to successfully complete investment research, modeling, and pitch creation for DOV, SAVE, SMG, ALB, NEM, WIRE, RTN, WM, and UPS. In addition to BIG, Mr. Culp served as a Trading Room Analyst at Bentley, where he became an expert on Bloomberg, FactSet, and Capital IQ, and served as a University Ambassador for high-profile guests.
Roles and ResponsibilityMr. Culp plays a critical role in all research and due diligence. Utilizing his background,, Mr. Culp leverages Coda’s proprietary data to drive insights and gain visibility into state-level cannabis markets and verticals.
EducationBentley University: Bachelors in Economics & Finance
Andrew Lammert
Chief Legal Officer
Mr. Lammert is a legal trailblazer in the cannabis industry as the Co-Founder and Chief Legal Officer of a prominent vertically integrated cannabis company, High Fidelity, headquartered in St. Louis, MO. Driven by a desire to challenge the stigma surrounding cannabis, Mr. Lammert entered the industry to advocate for legalization., Mr. Lammert played a crucial role in shaping cannabis legislation and regulation in the state of Missouri.
Beyond High Fidelity, Mr. Lammert is actively engaged with industry stakeholders and legislative bodies helping influence evidence-based policies and research surrounding cannabis. His professional experience stands as an example of the transformative power of dedication and legal advocacy in the cannabis industry, and serves to inspire operators and regulators alike to drive positive change in the cannabis industry.
Prior to founding High Fidelity and Coda Capital, Mr. Lammert was an established litigator for Missouri law firm McCarthy, Leonard & Kaemmerer, L.C. where he counseled business owners and executives through technical aspects of litigation and regulatory compliance.
Roles and ResponsibilityAs Chief Legal Officer, Mr. Lammert ensures Coda Capital’s investments are backed by companies that use best practices to operate in strict accordance with each state’s regulatory framework. Mr. Lammert also provides unique insight to the potential outcomes from the evolving statutory regulatory landscape in cannabis to help ensure all investments meet the highest possible compliance standards.
EducationUniversity of Missouri: Bachelors in Business Administration
University of Missouri: Juris Doctor (JD)
Meghan James
Director of Investor Relations
Mrs. James leads Coda Capital Advisor’s institutional and high net worth sales and service initiatives. She has 18 years of financial industry experience.
Prior to joining Coda Capital Advisors, she worked as a Senior Business Development Officer for PNC’s Institutional Asset Management Team. Mrs. James was responsible for raising more than $1 billion dollars in institutional capital during her tenure with the bank.
Prior to PNC’s Institutional Asset Management team, Mrs. James served as the Director of Client Service and Institutional Wealth for Argent Capital Management. She led the oversight and coordination of Argent’s client service and sales activities. Her team was responsible for developing deep relationships with high net worth and institutional investors, integrating all new client accounts, developing an understanding of client needs and objectives, serving as a client advocate within the firm, planning and coordinating client events, and actively communicating with key contacts on all aspects of the client relationship.
Mrs. James resides in St. Louis, MO with her family.
Roles and ResponsibilityMrs. James plays a critical role in cultivating relationships with Investors. Utilizing her experience working with institutions and high net worth individuals in the investment industry, Ms. James can bring forward Coda’s unique investment capabilities in the cannabis capital markets to the appropriate audience.
EducationGeorgetown University: Bachelors in Psychology; Honors: Magna Cum Laude
Kyle Lenzen
Executive Vice President
Mr. Lenzen is an experienced investor and serial entrepreneur. Mr. Lenzen co-founded High Fidelity, a leading vertically integrated cannabis operator based in St. Louis, MO. Mr. Lenzen currently serves as High Fidelity’s Chief Executive Officer where he is responsible for the overall execution of all verticals including cultivation, manufacturing and retail. Through his experience creating and leading High Fidelity, Mr. Lenzen offers invaluable first-hand knowledge and analysis for all potential investments.
Prior to his cannabis endeavors, Mr. Lenzen was a successful retail executive having over 20 years of experience selecting, developing, and leasing locations for national retailers including Dunkin Donuts, Jimmy Johns, etc. Through this experience, Mr. Lenzen is a leading expert in inline retail investing and has an extensive national retail broker network. Drawing upon his retail and cannabis expertise, Mr. Lenzen is an expert in cannabis dispensary retail site selection.
Roles and ResponsibilityGiven his national cannabis network, Mr. Lenzen is responsible for business development and sourcing new investment opportunities. Additionally, Mr. Lenzen provides critical insights into Coda’s underwriting process including identifying operators who have best practices, superior retail locations and quality products.
EducationUniversity of Missouri: Computer Science (BS)
Brand Story
At Coda Capital, we offer strategic debt solutions to inefficient, capital-constrained markets, while also providing our investors with attractive risk-adjusted returns. With over 75 years of combined investment experience in alternative asset classes, in addition to entrepreneurship and legal expertise, we’re a reliable provider of creative credit solutions for the cannabis industry.
Utilizing our background in raising and managing over $1billion within a range of alternative investor classes, we’re focused on providing strategic capital to the cannabis market. With our data-driven processes, we’re able to identify opportunities in this niche industry and personalize them to better suit the needs of the business and the interests of our investors.
As regulatory barriers diminish, and capital inflows increase, our firm is uniquely positioned to offer tailored financial solutions that drive growth and value creation across the cannabis industry. Our strategic investments will focus on sectors with the highest potential for growth and clear regulatory alignment which will allow us to deliver exceptional risk-adjusted returns to our investors.