Privateer Holdings, a Seattle, Wa-based private equity firm investing exclusively in legal cannabis, completed its $100+ Million Series C funding round.
The investor base consists of high net worth individuals, family offices and institutional investors. The more than $100m in new funding brings the firm’s fundraising total to $200m.
Privateer Holdings will use this new financing to expand its existing portfolio of brands to new markets, to make strategic acquisitions and to launch new ventures across multiple geographies, sectors and consumer demographics.
Portfolio companies include Leafly, Tilray, Marley Natural, and The Goodship.
In addition to announcing the close of the round, the firm also announced a pledge from the firm’s founders (Michael Blue, Christian Groh, and Brendan Kennedy) to donate equity equivalent to $5m at the current valuation to help communities harmed by cannabis prohibition.
The equity pledged will support organizations committed to addressing the social and economic injustices of cannabis prohibition, including campaigns to legalize cannabis; clinical research studying the potential therapeutic benefits of medical cannabis; efforts to educate the public about safe and responsible cannabis consumption; expungement of non-violent cannabis offenses; expanding global patient access to medical cannabis; and more.