Privateer Holdings, a cannabis industry’s first private equity firm, received a multi-million dollar investment in Series B round.
Peter Thiel’s Founders Fund, a venture capital firm with more than $2 billion in assets under management, made the investment.
Led by CEO Brendan Kennedy, Privateer Holdings was founded in 2010 and had previously raised $22m in Series A fundraising round and a convertible bridge note from high net worth individuals and family offices.
The firm will use the investment to continue building mainstream companies and professional brands that elevate the conversation about cannabis for patients and consumers around the world. The portfolio currently includes:
Leafly, an online cannabis information community.
Tilray, a premium medical cannabis company.
Marley Natural, a premium cannabis brand rooted in the life and legacy of Bob Marley, which plans to begin offering heirloom Jamaican cannabis strains, cannabis- and hemp-infused topical products, and accessories in late 2015.