- The well-known Silicon Valley investor Peter Thiel is now on marijuana.
- He is involved with several million euros on a company, which in turn has companies in the marijuana industry in the United States.
million dollar bet on marijuana
America’s booming marijuana industry receives reinforcement by one of the famous Silicon Valley billionaires: The well-known through his early entrances on Facebook and PayPal Peter Thiel has participated with his more than two billion dollar Founders Fund at the specialized shops on cannabis private equity firm Privateer Holdings. The amount of the investment, there is no specific information, there is only mention of “several million dollars”
Drug-billion market
Although marijuana -. Usually for medicinal purposes – is now allowed in 23 of the 50 US states, many companies find it difficult to find investors. Banks grant loans hardly so as not to conflict with the money laundering laws. Nevertheless, a billion-dollar market is around the business with cannabis originated. Experts predict that sales will grow massively with legal sales in the coming years. The industry relies on a further reduction of the legal hurdles that attract big money sooner or later.
First large institutional investor
Privateers portfolio consists of three startups that of the progressive cannabis want to benefit -Legalisierung in the United States. Finally, the participation company had made headlines when she won the heirs of reggae legend Bob Marley as a name for the brand “Marley Natural”. Privateer refers to the entry of the first major institutional investor as a milestone for the entire industry.
The Founders Fund, the Thiel started in 2005 with two of his PayPal co-founder, among other things, the trend Company Airbnb, Spotify, SpaceX, Oculus involved and Lyft.
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