Benedicte Gravrand, Opalesque Geneva for New Managers:
Cannabis is a growing market: its size in the US amounted to $6.7bn in 2015, and with the legalization of the commodity moving fast across the country, it is expected to reach $20bn by 2020. Very few fund managers have so far started investing in this market, but here is a brother-and-sister team that started looking into it as early as 2012.
Emily and Morgan Paxhia, who founded San Francisco-based Poseidon Asset Management in early 2014, talk to Opalesque about their cannabis-focused fund. Before Poseidon, Emily worked in product development for Fortune 500 companies for 15 years, and Morgan gathered more than 10 years of experience in the investment industry.
The US-domiciled fund’s strategy is growth-oriented. It invests in fixed income and public and private equities, and has a strong focus on the technology basket.
Opalesque: Why a cannabis-focused fund? How did it all start?
Morgan Paxhia: What started this journey for us was, we unfortunately lost both of ......................
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