Privateer Holdings Expects to Raise $50M

Privateer Holdings, one of the largest private equity firms in the cannabis industry, is reportedly set to raise more than $50 million in its latest round of fundraising.

The firm expects to finalize the investments and close its Series B financing effort at the end of May, Privateer Chief Executive Officer Brendan Kennedy told Geekwire.com.

The dollar amount is significant for the cannabis industry, showing that higher-level investors are finally starting to pump money into the sector. Kennedy said the company’s latest round even attracted several institutional investors, who have avoided the industry in the past.

The fundraising round is on track to more than double the $22 million Privateer has raised to date.

“I can’t say that we predicted everything to move this quickly,” Kennedy said.

The news caps off a flurry of positive developments on the investing side of the industry in recent weeks, with more money is flowing into cannabis companies than ever before.

Privateer has invested significant sums in four companies: the online strain review site Leafly, Canadian cannabis company Tilray, Washington-based cananbis business park Arbormain and Lafitte Venutures, which processes, packages and ships cannabis for Tilray.

9 comments on “Privateer Holdings Expects to Raise $50M
  1. Bonnie Wills on

    All this news is very exciting,…..but does anyone have an idea of WHEN the Federal laws about cannabis will change for the better???

    Reply
  2. Bonnie Wills on

    YAY Shane! Do your stuff! That one ruling will change our country and it WILL have a world wide effect.Seems those other countries follow what we do.

    Reply
  3. cheryl conti on

    I joined NORML in 1967 I think, at my Jr. high school, La Loma JH in Modesto, CA. I look forward to the day the nonsense stops. How and why have we let this government dictate to us what we do with a plant that grows wild and has medicinal qualities????

    Reply
  4. Neal on

    Could someone tell me when the laws will change in the state of New York and allow for private ownership. Will it ever happen here ? I read that you need to reside in your state a minimum of two years , before you can get involved into any business dealings with this business.

    Reply
  5. Bonnie Wills on

    You would think that the continental 48 states would all work together instead of acting like 48 separate countries in regard to cannabis laws. What is going on presently, (not working together) can only drag out this way more than necessary. Come on people, let’s get our act together and work unified. United we standc, divided we fall.

    Reply
  6. Bonnie Wills on

    Shane,
    Out here in Arizona, we get a LOT of advertising encouraging people to “move your business to NY (or open a new business)and not have to pay taxes for 10 years. I would think that would be an incentive for larger operations to go to NY.

    Reply

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