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Business Insider Profiles Poseidon

Business Insider spoke with Emily and Morgan Paxhia recently in a profile Poseidon Asset Management. 

The story begins with the duo's family history, when a nurse suggested cannabis for palliative care with their cancer-stricken father. Coming from a medical professional, the suggestion struck them, and started their separate journeys toward understanding the plant not so much as a recreational substance, but as medicine. 

Fast forward a decade and a half to when Morgan and Emily both happened to re-locate to the West Coast for separate professional reasons. Wanting to begin a new venture and having the foresight to see the changing legal perspective on marijuana, they knew it was time to begin one of the first (and earliest founded) cannabis investment funds in existence. 

For a more detailed (and eloquent) telling of their story, check out the original article in Business Insider. 

 

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Tech Crunch Features Poseidon

Tech Crunch recently quoted Poseidon regarding raising money for start ups in the cannabis industry. 

“The average seed round in the nascent cannabis industry in the U.S. hovers around $1 million, according to hemp and cannabis-focused investment research by Poseidon Asset Management,” they write. “But Denver-based Baker Technologies Inc. has raised $1.6 million in seed funding for software that helps marijuana dispensaries win new customers, eliminate long lines in stores, and retain and reward their best customers for loyalty.”

For those unfamiliar, some of the most popular dispensaries often have long lines as a result of their superior selection of products, ranging from flowers to edibles, to concentrates like waxes and vape products. 

Baker provides the technology to not only order ahead, but also for the dispensaries to provide customer relationship management and a loyalty rewards system. 

“With dispensaries, like any other retail business, it’s all about customer count,” Poseidon Managing Director, Morgan Paxhia is quoted as saying. “Baker helps them serve a greater number of customers or patients each day, increase revenue per client visit, and develop a strong relationship with customers to increase recurring revenue.”

Baker is now operating in Washington, Oregon, Colorado and Ontario. They are soon expected to begin operations in California, Massachusetts, Arizona and Nevada. 

Read the original article here. 

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CNN Money Features Poseidon Founder

Emily Paxhia in CNN Money

In a recent CNN Money feature, Poseidon founder Emily Paxhia was written up for being a leading female figure in the burgeoning cannabis industry.

Much as been written about the distinctly female trend in executives leading companies in the marijuana movement, including this cover story from Newsweek in late 2015.

Some attribute it to an industry that is so new (at least in legal, above-board operations), that it is not yet affected by business’ penchant for male domination, especially at the C-Suite level.

Others have found it justifiably fitting, as the most valuable element of the marijuana plant, the buds, are only produced by female plants.

"Emily Paxhia is one of the founding partners of Poseidon Asset Management, a cannabis-focused hedge fund… that invests primarily in cannabis-related companies, like those in agtech, compliance and industrial hemp technology," the article states. "While the fund has invested in women-owned companies in the industry, it's keen to find more, she said.”

"Female founders are often quite driven and show solid rates of success among startup founders."

View the original article.

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Could Women Dominate the Legal Marijuana Industry?

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Could Women Dominate the Legal Marijuana Industry?

Newsweek’s cover story this week is one that we find both exciting and fascinating—and not just because Poseidon is featured in it. It’s called “Women in Weed” and we couldn’t be more on board with its central argument—that the legal marijuana industry could be the first billion dollar industry led by women.

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