Investor Ideas #Potcasts
590, #Cannabis News and #Stocks on the Move; Interview with Managing Director
of Poseidon Asset Management
Delta, Kelowna, BC, July 28, 2021 (Investorideas.com Newswire) www.Investoride, as.com, a global news source covering leading sectors
including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight
from thought leaders and experts.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2021/072821-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/07281Interview-Poseidon-Asset-Management.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
Today’s podcast overview/transcript:
Good
afternoon and welcome to another episode of Investorideas.com
"Potcast" featuring cannabis news, stocks to watch as well as
insights from thought leaders and experts.
In
today’s podcast Investorideas interviews Patrick Rea, the Managing Director of Poseidon Asset Management, where we
discussed the changes in the cannabis investment landscape since Poseidon’s
inception in 2013, what sectors are seeing the most growth in today’s market
and what trends are on the horizon for the cannabis industry in the U.S.
Poseidon is a leading investor in
the legal cannabis and hemp industries with $190 million in AUM. Active cannabis investors since 2013,
Poseidon was founded by siblings Emily & Morgan Paxhia and the team has
collectively raised seven cannabis-specific funds and deployed capital into
nearly 200 businesses across various stages and verticals globally. Now in the
seventh year of conducting due diligence, deploying capital, and serving on
multiple company Board of Directors, the team is considered a leader in the
cannabis industry. This recognition, in conjunction with Poseidon being a first
mover in the cannabis investment space, has led to a level of trust with
industry insiders.
Since its inception Poseido has
since launched two follow up funds, now launching their third fund, Poseidon
Garden Ventures Rea commented, “When we started the third fund, which we are
working on now, with fresh eyes we took a look at the industry and the
opportunities for a private venture capital fund, and we decided, for a number
of reasons, that focussing on the late seed stage companies in the cannabis
industry, the one’s right before Series A, were the ones that had the greatest
promise.”
Poseidon announced on Monday its first three Poseidon
Garden Ventures investments into licensed operator JKL2, cultivation technology
company Adaviv, and dispensary technology provider Dispense.
As part of the investment, Poseidon
will join the Boards of all three companies as directors or observers.
"Poseidon Garden Venture's
thesis is to invest in pre-Series A licensed operators and cannabis technology
companies founded by proven operators," said Managing Director, Patrick
Rea. "We see immense opportunity at this high-growth stage in the cannabis
industry to actively scale these companies, leveraging our network and
experiences investing in the cannabis industry since 2013, and position them
for exits in today's dynamic M&A environment."
Led by cannabis industry veterans
Chelsey Joseph and Jill Lamoureux, JKL2
Inc. is a strategic cultivation partner of WHT LBL LLC, a multi-state operator
(MSO) focused on cultivation and processing based in Boulder, Colorado. JKL2's
new 10-acre cannabis cultivation facility, in partnership with Power REIT, is
the start of a platform that will immediately add capacity, further securing
the flower and trim supply chain and seizing on strategic expansion
opportunities in the state.
"We have known the team at
Poseidon for years and are excited to work with a firm with a proven track
record of success," said JKL2 CEO Chelsey Joseph. "Poseidon has
critical insights into where the industry is going, and we are excited to get
their support to build the next leading single state operator in
Colorado."
Dispense, founded by Kyla Sirni and
Tim Officer, is a digital dispensary management platform designed with the
changing priorities of MSOs and other operators in mind. The platform offers a
suite of retail solutions including menu widgets, online ordering, pickup
batching, full data control for the retailer, integrations, customer chat,
analytics and staff management.
"Poseidon is as much of an
investor as a strategic partner," said Dispense co-founder & CEO, Kyla
Sirni. "Their vast network will help us create new synergies and scale
Dispense across the cannabis industry, putting the retailer first in every
consumer experience."
Born out of MIT, Adaviv's
cultivation cameras and software help cultivators manage plant health using AI,
improving yields and reducing waste. Adaviv's users have detected 7-10 times
more plant health issues, increased yield consistency by 50% and driven yield
improvements by over 20%.
Adaviv co-founder Ian Seiferling
said, "Our vision is to make each plant count and every farmer the best
farmer they can be. We knowPoseidon shares these same principles, bringing
efficiency, operational excellence and sustainability to the industry through
their portfolio companies, so we are excited to have them partner with us as we
gain traction."
When asked what strategies and ways of
assessing market winners from losers he has learned over his years investing in
the space, Patrick Rea commented, “It takes time. We want to be dealmakers not
dealtakers. We go into these companies and start doing due diligence and see
cap tables with hundreds of angel investors on there, and the angels are great
for getting the business started, but they’re not gonna dig in necessarily all
the time when it comes to problems in the financial modeling, interest coverage
ratios, etc. There are real standard financial KPIs that we look at, we also do
really deep interviews with the founders on strategy. It makes it hard for us,
but if it was easy, and everybody was doing it, you may not get the returns
that you expect from a high risk industry like cannabis. High risk should mean
high return, but we are looking for the companies and the teams that have a
very clear headed understanding of where they are in their process, a very
clear understanding of the value, and hopefully ideally they have operating
history from other ventures in the cannabis industry and we can vet those.”
Rea went on to discuss some of the areas of
the industry he has witnessed the most success and the largest obstacles in
over the past few years. Poseidon’s strategies moving forward as well as
expectations for the U.S. market over the next few years.
For more information, visit https://www.poseidonassetmanagement.com/.
Investor ideas reminds all
listeners to read our disclaimers and disclosures on the Investorideas.com
website and that this podcast is not an endorsement to buy products or services
or securities. Investors are reminded all investment involves risk and possible
loss of investment.
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