Privateer Holdings is a private equity firm shaping the future of the legal cannabis industry.
Founded in 2010 in Seattle by three visionary entrepreneurs with decades of experience in investment banking and venture capital, we represent a group of investors from around the world seeking to end cannabis prohibition and the social harms it causes. Through a combination of acquisitions, investments and incubation, we are focused on building a portfolio of global brands that will lead, legitimize and define the future of cannabis.
We have three fundamental beliefs:
1. Cannabis is a mainstream product consumed by mainstream people;
2. The end of cannabis prohibition is inevitable; and
3. Brands will determine the future of the cannabis industry.
We are set apart by the depth of hands-on management and investment experience of our team, which includes Ivy League MBAs, PhD research scientists, marketing professionals and operators from world-leading brands, and even former federal law enforcement professionals.
In an industry stigmatized by negative perceptions and substandard business practices, we are elevating consumer expectations through consistent quality and service. When prohibition ends, we intend to hold the most enviable position in the market and to generate enormous returns – both financial and social.
A PIONEERING COMPANY OF FIRSTS
MAY 2010
PRIVATEER HOLDINGS IS FOUNDED
Brendan Kennedy, Michael Blue, and Christian Groh quit their jobs in venture capital and investment banking to begin researching the cannabis industry. They travel the world meeting with cannabis growers, dispensary owners, patients, activists, lawyers and political campaigners.
Privateer Holdings Partners (from left): CFO Michael Blue, COO Christian Groh and CEO Brendan Kennedy.
OCTOBER
PRIVATEER HOLDINGS LAUNCHES
After more than a year of in-depth, on-the-ground research, Privateer Holdings launches as the first private equity firm focusing exclusively on the cannabis industry.
DECEMBER
LEAFLY ACQUISITION
Privateer Holdings acquires Leafly, a popular cannabis information and strain review app, marking the first investment by a private equity firm in the cannabis industry.
OCTOBER
DEA AGENT JOINS AS GENERAL COUNSEL
Patrick Moen, a licensed attorney and federal narcotics agent, becomes the first person to leave the U.S. Drug Enforcement Administration to join the cannabis industry.
Patrick Moen
DECEMBER
$7 MILLION SERIES A FUNDING ROUND CLOSES
Privateer Holdings closes $7 million in Series A funding, marking the first multi-million dollar fundraising round by an investment firm in the cannabis industry. “It was the hardest money we ever raised,” said CEO Brendan Kennedy.
APRIL
TILRAY OPENS IN CANADA
Tilray becomes the first American-owned company to operate a federally-licensed commercial cannabis production facility.
MAY
LEAFLY IS NAMED APP OF THE YEAR
Geekwire awards its top honor to Leafly over Microsoft, Cloak and Lively – naming Leafly the 2014 “App of the Year”.
AUGUST
LEAFLY PUBLISHES FIRST CANNABIS AD IN THE NEW YORK TIMES
Leafly becomes the first cannabis company to place a full-page print advertisement in The New York Times, congratulating the state of New York on passing the Compassionate Care Act and reminding consumers to #JustSayKnow.
NOVEMBER
MARLEY NATURAL DEBUTS ON NBC’s TODAY SHOW
Marley Natural – a partnership between Privateer Holdings and the family of Bob Marley – is unveiled as the world’s first global cannabis brand, on NBC’s Today Show. The news is heard around the world, resulting in more than 2 billion earned media impressions and more than 2,000 stories printed in 196 countries.
DECEMBER
FOUNDERS FUND BECOMES FIRST INSTITUTIONAL INVESTOR IN LEGAL CANNABIS
Peter Thiel’s Founders Fund becomes the first institutional investor in the legal cannabis industry through an investment in Privateer Holdings’ Series B round. The news is announced on CBS This Morning and generates more than 2 billion impressions.
MARCH
$75 MILLION SERIES B ROUND CLOSES
Privateer Holdings announces the largest funding round ever closed by a private equity firm in the cannabis industry - $75 million.
MARCH
HIRED CATHERINE JACOBSON, DIRECTOR OF CLINICAL RESEARCH
Dr. Catherine Jacobson is responsible for creating and managing clinical research partnerships for Privateer Holdings.
OCTOBER
TILRAY LAUNCHES EXTRACTS PRODUCT LINE
Tilray debuts a broad-based line of medical cannabis extract products in Canada.
JANUARY
LEAFLY COMEDY TOUR LAUNCHES
The Leafly Comedy Tour hosts its first show in Seattle. The yearlong tour becomes a smash-hit in 11 cities across North America: Los Angeles, Denver, Chicago, Toronto, San Francisco, Portland, Phoenix, Brooklyn, Boston, Austin, and Vancouver.
FEBRUARY
LAUNCHED MARLEY NATURAL
Marley Natural debuts premium cannabis products, a body care line, and smoking accessories.
FEBRUARY
ANNOUNCED AUSTRALIAN CLINICAL RESEARCH PARTNERSHIP
Tilray partners with the University of Sydney, New South Wales Government, and Chris O'Brien Lifehouse (one of Australia's leading cancer hospitals) to conduct a first-of-its-kind clinical trial studying how cannabinoids can benefit patients with chemotherapy-induced nausea and vomiting (CINV).
JUNE
TILRAY BEGINS EXPORTING CANNABIS INTERNATIONALLY
In June, Tilray made history when it became the first company to legally ship medical cannabis products from North America to the European Union. Tilray's liquid cannabis capsules are now being distributed in pharmacies across Croatia. Read more about this historic milestone in CBC News.
AUGUST
LEAFLY NAMED ONE OF AMERICA'S FASTEST
GROWING COMPANIES
Inc. ranks Leafly #76 on its 35th annual Inc. 5000, the most prestigious ranking of the nation's fastest-growing private businesses.
AUGUST
MARLEY NATURAL EXPANDS TO OREGON
Marley Natural cannabis products expand to Oregon.
The Oregonian covers the launch.
AUGUST
MARLEY NATURAL RISE UP EXPUNGEMENT DAY
Marley Natural partners with the Minority Cannabis Business Association to host Rise Up Expungement Day. Dozens of people with criminal records for non-violent cannabis-related offenses have the opportunity to file official expungement requests with the State of Oregon. USA TODAY covers the news.
AUGUST
LEAFLY'S FIRST EUROPEAN EVENT
Leafly celebrates the global cannabis movement at the 20th anniversary of Hanfparade, Germany’s largest pro-cannabis event.
SEPTEMBER
LEAFLY NEWS RE-LAUNCHES
Leafly hires a team of world-class journalists and debuts a redesigned editorial website to better showcase its world-class cannabis content.
