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Poseidon Asset Management Raising $75M For Marijuana-focusd Fund Ii

by businessinsider.com posted 1month ago 28 views
Poseidon Asset Management, a marijuana-focused fund, is raising $75 million to go after Series A or later investments in marijuana companies, said Morgan Paxhia, a managing partner. The fund will be divided across four verticals in the marijuana industry, though Paxhia said he's particularly bullish on ancillary tech. Poseidon has a solid track record: The fund got into buzzy vape startups Pax and Juul early on, and sold off their position in Aphria, a Canadian cannabis producer, before it was targeted by short-sellers. A leading marijuana-focused firm run by a brother-and-sister team is raising a new fund.