Legal pot is still a tough deal for investors

Helping spur earlier investments: Peter Thiel’s Founders Fund, which in 2015 made a multimillion-dollar investment in Privateer Holdings, the world's first private equity firm investing exclusively in the legal cannabis market. Seattle-based Privateer owns Leafly, a Yelp-like app and website service that works much like a marijuana search engine to connect medical and recreational users with legal suppliers, along with strain reviews. Privateer also backs the Marley Natural marijuana line, founded with the surviving family of reggae star Bob Marley, and Tilray, a Canada-based medical marijuana company.

Read more in USA Today.