Investors Spent More Than $100 Million on Marijuana Businesses in the Last Two Years

INC.

The biggest news in the space hit last week, when Peter Thiel’s Founders Fund took part in the $75 million Series B round of Privateer Holdings, a private equity company that owns two marijuana companies and a website. With the deal, Founders Fund became the first brand-name venture capital firm to get involved in the pot industry. 

Silicon valley bets big on cannabis

THE TELEGRAPH

The Silicon Valley cash injection is going to Privateer Holdings, which owns Marley Natural and Leafly. Privateer chief executive Brendan Kennedy, who was educated at Yale, told the Los Angeles Times: "Six to 12 months from now there will be investment banks who will have analysts following cannabis like they follow healthcare or agricultural commodities."

Founder of PayPal bets on US taste for cannabis

THE INDEPENDENT

PayPal’s co-founder, Peter Thiel, has made a multimillion-pound investment in the US cannabis industry even though the drug is only legal in a handful of states. His venture capital firm, Founders Fund, has become the first institutional investor in Privateer Holdings, a Seattle-based company that owns marijuana-related businesses.

Tech billionaire Peter Thiel’s wealth goes to pot with investment in legal cannabis

THE TIMES

However, [Peter Thiel's] Founders Fund, the San Francisco-based venture capital company he has used to back promising tech start-ups including Airbnb, Spotify and LinkedIn, has made a multimillion-dollar investment in a company involved with a product that dates back to the 5th century BC — cannabis.