While at the Cannabis Investor Summit recently, Poseidon Founding Partner and Chief Investor, Morgan Paxhia was interviewed on the Cannabis Financial Network (CFN).
In this short interview, Morgan tells the story of how we came to start the fund as a balanced way for accredited investors to approach the industry. He also mentions that before Poseidon, a cannabis-based fund didn’t really exist.
“We are still the only hedge fund actively investing in the space,” he says. “We have over 20 companies in our portfolio, and are still growing. We are looking this year to do another 15-20 deals.”
He also makes a great point in stating that since the legal side of this industry is still so nascent, there is a dearth of reliable business information available. However since Poseidon is so invested in meeting the people who make this industry what it is--both those who have been in it for years and the new movers and shakers--we have created a wealth of internal research. For this reason, we see our backgrounds both in market research and finance as extremely important to Poseidon’s value proposition.
“We’ve created a very deep bench of research already,” he says.
Morgan’s take on the industry as a whole is perhaps the most telling statement of the interview.
“The industry is at such an interesting point right now because capital is starting to flow, but it’s not like an open spigot. It’s trickling. But there’s a ton of interest… Seeing what’s happening in Silicon Valley, starting to see some of these big tech VC firms really get behind cannabis companies—it’s very interesting.”