Finance goes to pot
Start-up watch: How much for a cannabis incubating company? If we’re talking about Canada-based Privateer Holdings, make that a $75 million funding round so that the outfit can immodestly go on and ‘build a global portfolio of billion dollar cannabis brands operating in multiple geographies around the world’.
First steps towards that goal include the rollout of Privateer’s existing brands to new markets, a few strategic acquisitions and the launch of new ventures. Current investments include the Leafly cannabis information community which boasts the world’s largest database of user-generated reviews of cannabis strains, products and dispensaries.
And there’s Tilray, one of the largest producers of premium medical cannabis which grows, processes, packages and ships medical cannabis to thousands of Canadian patients. Tilray is looking at expansion opportunities in the Americas and Europe.
And also Marley Natural, a premium cannabis lifestyle brand rooted in ‘the life and legacy of Bob Marley’, which plans to begin offering cannabis strains, cannabis- and hemp-infused topical products, and accessories in North America later this year.
“Cannabis prohibition and the destructive social injustices it causes are going to end sooner than people think,” says Privateer Holdings CEO Brendan Kennedy.