San Francisco-based cannabis hedge fund operator Poseidon Investment Management completed investments in two New Jersey dispensaries.
The company confirmed to MJBizDaily that it invested about $1 million each to fund the startup and buildout costs for cannabis retailers Blkbrn and Dogwood Green.
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Blkbrn’s retail store is located in Highland Park, just outside the New York City borough of Staten Island.
Dogwood Green is located in West Orange, a suburb of Newark.
“With these two investments, we are allocating to retail in special situations, driving outsized sales with a focus on profitability, increasing the probability of success for founders, and generating faster returns for our investors,” Poseidon Managing Director Patrick Rea said in a news release.
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