Cannabis Industry Sparks Investor Interest

Privateer team
7 of the 200+ employees at Privateer Holdings

Sacramento Bee reporter Peter Hecht explores the emergence of the cannabis industry, which is drawing investors like cannabis-industry focused Poseidon Asset Management and Privateer Holdings but also more diversified firms including Founders Fund , Tao Capital Partners and DCM Ventures.

The article begins with a history of cannabis social network MassRoots, which has gone from startup in 2013 to a quickly scaling business on the cusp of uplisting to the NASDAQ. CEO Isaac Dietrich credits the ArcView Group’s angel investing network for much of the cumulative $3.5mm his company has raised. Andy Williams discusses his plans to expand Colorado-based Medicine Man to California. Eaze founder Keith McCarty describes his success thus far with the delivery app and his plans to globalize it.

Privateer Holdings, which owns Leafly, Canadian producer Tilray and the Marley Natural brand, employs 225 people, including a former DEA agent, Patrick Moen, as its General Counsel, is attracting “smart professionals from places like Amazon and T-Mobile and Microsoft that are waking every day to build companies and brands to end marijuana prohibition,” according to CEO Brendan Kennedy.

Read Peter Hecht’s “Tech mavericks see green in burgeoning marijuana industry”: http://www.sacbee.com/news/state/california/marijuana/article52749005.html

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Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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