POSEIDON FUND: This longtime cannabis investor has funded Pax and Juul, among others; here’s her approach

By Connie Loizos

MAY 31, 2019

via TECHCRUNCH

TECHCRUNCH

TECHCRUNCH

This longtime cannabis investor has funded Pax and Juul, among others; here’s her approach

If you’re a cannabis investor or a founder working on a cannabis-related startup, you’ve probably heard of Poseidon Asset Management.

The San Francisco-based investment firm is one of very few that is focused narrowly on the industry, which remains fairly insular for now. Poseidon has also been at it longer than most outfits, having begun making bets on cannabis-related companies six years ago. More, Poseidon has managed to stuff checks into some of the fastest-growing companies in the sector, including the cannabis vaporizer company Pax Labs and the e-cigarette company Juul, whose founders created the Pax vaporizer before peeling off to win over smokers. Indeed, because Poseidon has largely invested the money of high-net-worth individuals and family offices, it hasn’t been constrained by the same vice clauses — or restrictions by backers like pension funds and other institutions — that can impact where venture capitalists invest.

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