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A leading marijuana-focused firm run by a brother-and-sister team is raising a new fund. San Francisco-based Poseidon Asset Management is looking to raise a total of $75 million for its venture-focused Fund II, said Morgan Paxhia, Poseidon’s managing partner. Already the fund has raised $15 million in its first close, he said. Paxhia said Poseidon’s new fund will focus on Series A stage or later investments in marijuana companies. “In the grand scheme of things in the venture world, $75 million is still small,” Paxhia said. “But we think it’s the right size for staying nimble and being able to capitalize on good deals.” Poseidon Asset Management raising $75 million for marijuana-focused Fund II

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