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Seattle marijuana investment firm Privateer closes $75M round to build global cannabis brands

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Submitted by Marijuana News on Tue, 04/07/2015 - 02:56

Privateer Holdings is well on its way to becoming one of the country’s top marijuana investment firms.

The Seattle-based holding company today announced the closure of a $75 million Series B round, money that Privateer will use to grow its three marijuana-related startups and expand the firm’s portfolio further.

“This positions us to build a family of global brands over the coming years,” Privateer CEO Brendan Kennedy said of the fresh cash.

Privateer has come a long way since launching back in 2010, when both the medical and recreational marijuana industries looked far different than now. It started with Leafly, an app for cannabis strains coined as the “Yelp for marijuana,” and later added two other companies: Tilray, a medical marijuana producer in Canada, and Marley Natural, an international brand that sells marijuana-related products.

Along the way, the firm has attracted serious investor attention — but it wasn’t always this way. Kennedy said the $7...

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URL: 
http://www.geekwire.com/2015/seattle-marijuana-investment-firm-privateer-closes-75m-round-to-build-global-cannabis-brands/

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