Last week, Forbes published an intelligent and even-handed survey of the venture capital funds currently operating in the cannabis industry. The business magazine counted Poseidon as one of the "top names in the group."
The article began with a sober assessment of the industry, remarking that for all the excitement therein and all the money floating through its various channels, there seems to be a dearth of promising deals. In such an atmosphere, due diligence is required even more than usual on the part of fund managers.
"These investor groups are very focused on the viability and future of their companies," the article reads. "They truly believe in this industry whether from an emotional point of view or from a strictly business outlook... 'There are great investment opportunities,'" it reads, quoting Steve DeAngelo of the ArcView Group, "'but it takes time to find them.'"
They then quote Poseidon's Emily Paxhia, echoing this concern.
“There is a lot of money circling the space and the deals aren’t always the best,” said Emily, “We want to find the ones that are worth it.”
The article goes on to quote Morgan Paxhia, who express Poseidon's focus on ancillary businesses.
“One of our core beliefs is efficiency and utilizing technologies,” he said.
Backing this up, the article mentions Poseidon's already heightened focus on due diligence, and our membership on the board of the Responsible Cannabis Public Companies.