If you are interested in the burgeoning marijuana sector and you havenâ€™t heard about Privateer Holdings, you need to brush up on it now.
Privateer Holdings is a private equity firm spearheaded by Brendan Kennedy (of Silicon Valley Bank) and Michael Blue. And hereâ€™s why Privateer isnâ€™t messing about: the company has already racked up $7 million in capital from interested investors. Privateerâ€™s mission is to buy up companies that can ultimately serve and grow the marijuana industry.
Right now, as a glowing NPR profile notes, Privateer is focusing on the medical marijuana sector. There are a few reasons for this choice. One, of course, is that most states look favorably on medical marijuana usage, and the moment you mention â€œmedical,â€ even those opposed to marijuana on principle pay attention.