Mainstream Venture Capital Firm Invests in Marijuana Busniess

Mainstream Venture Capital Firm Invests in Marijuana Busniess

NEW YORK, NY — Founders Fund, the $2 billion San Francisco venture capital firm run by Silicon Valley stars including Peter Thiel, co-founder and former CEO of Paypal, is investing in Privateer Holdings, a marijuana company that owns several pot-related brands.

The companies declined to disclose the size of the investment Thursday, but described it as a “multi-million dollar” participation in a $75 million fundraising effort by Privateer. The deal had been rumored last year.

Privateer, based in Seattle, owns the Canadian medical marijuana producer Tilray and the pot information service Leafly. It is also launching a brand of marijuana and products with the family of Bob Marley called Marley Natural.

Founders Fund partner Geoff Lewis, who is leading the firm’s investment in…

CONTINUE READING: Click Here to Continue Reading Article…