The International Business Times ran an article this week entitled “Meet the 20 Most Influential People in Cannabis” and included Poseidon executives in the roster.
“As of April 20, four states have legalized recreational use of cannabis and 23 allow marijuana to be prescribed for medical use,” the article states, “But marijuana hasn’t shed its reputation on its own…. The International Business Times identified 20 of the most influential people in the marijuana industry, as chosen by their peers.”
The list of 20 influencers runs the gambit, from medical researchers (Raphael Mechoulam), to celebrities (Snoop Dogg), to advocates (Sanjay Gupta, Mason Tvert), to techies making a splash in the burgeoning industry (Issac Dietrich of MassRoots). Also included were Poseidon co-founders Morgan and Emily Paxhia, who are making a name for themselves as responsible business people, investing in companies that will not only make a profit for their investors, but enrich the industry as a whole--an important thing at this nascent stage.
“Sister-and-brother Emily and Morgan Paxhia of San Francisco head an investment fund for entrepreneurs interested in more than a get-rich-quick scheme. As the co-founding partners of Poseidon Asset Management, they have made it a point to work with people who are interested in the future of cannabis. One of the core elements of Poseidon is that ‘capital is a change agent,’ says Morgan, the company’s chief investor.
“Many people believe that legalization is going to happen and fear that complacency could kill that momentum,” says Morgan, a former financial adviser at UBS Financial Services. “It’s important that companies we invest in are involved in things like advocacy and legislative movements. It’s important that investors [believe] that there’s still work to be done.”
The article continues with a word about how Poseidon goes about selecting investments.
“We’re looking for companies that are representing a mature standpoint or point of view,” says Emily, Poseidon’s director of relations who has a background as a brand consultant and researcher for companies like Time Warner, Viacom and American Express. “They’re operating in the cannabis industry like a company in any other industry where they’re advancing and moving forward… There are a lot of played-out stereotypes around cannabis and there are a lot of people that like it that don’t fit that stereotype.”