VC’s of Cannabis — Poseidon Asset Management
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In this article, in our series on VC’s of cannabis, we take a look inside Poseidon Asset Management.
Poseidon Asset Management
Poseidon Asset Management, LLC operates as an investment management company. The San Francisco-based firm is one of very few that is focused narrowly on the industry. Poseidon has also been at it longer than most outfits, having begun making bets on cannabis-related companies in 2014. It was founded by siblings Emily and Morgan Paxhia who are both managing partners at the firm.
Portfolio
Some companies in the portfolio include;
GTI
GTI (Green Thumb) is an experienced, credible, provider of marijuana and cannabis products for legal, medical use. Dignified access to safe and quality cannabis nationwide. Their brands include; Rythm, Dogwalkers, Beboe, Doctor Solomon and The Feel Collection. Poseidon invested in 2016 and GTI has since become a public company.
Flow Kana
Flow Kana is a California-based, small batch cannabis brand powered by craft farmers. Poseidon made the investment in 2017 and the company has since gone on to raise $50m in VC funding.
Copperstate Farms
One of the largest and most efficient greenhouse cultivators in Arizona, Copperstate farms is the key resource for premium product in the state. They have raised from Liberty Health Sciences aswell as Poseidon and have raised $35.6m in funding
Sublime
Sublime is a California leader in cannabis manufacturing and distribution. All of their products start with pesticide-free, sunkissed cannabis from partner farms throughout California. Poseidon invested in 2019 through their second fund.
SPARC
SPARC’s Cannabis products are sustainably grown on their Sonoma County estate in fully organic, biodynamic fields using only natural sunlight. SPARC began in 1998 as a trailblazer in medical cannabis, and today continues to originate and propagate many of the industry’s most rigorous quality-control practices. SPARC is committed to advancing the standards of how cannabis is cultivated, packaged and retailed industry-wide, and being a force for good in the neighborhoods and communities. This investment also came from Poseidon’s second fund in 2019.
POSEIDON PLEDGES TO THE INDUSTRY;
- We are committed to growing with the burgeoning cannabis industry in an honest, responsible, non-exploitative way.
- We will work to change the old, outdated perceptions of cannabis and to replace the stigma with fresh perspectives, through education and by living as examples.
- We seek to end cannabis prohibition and all the injustices and harms that prohibition inflicts.
- We are committed to showing the good cannabis can render as a medicine, for adult use, and as a material (industrial hemp) that can aid humans in living sustainably and responsibly.
