Skip to content

Is pot the future boom business? The founder of Pay Pal thinks so

Free World Class Education
FREE Catholic Classes
Founders Fund invests millions in Seattle pot company

Founders Fund, a $2 billion dollar, San Francisco-based venture capitalist firm ran by the co-founder and former CEO of PayPal is moving in a new investment direction, turning towards pastures a little greener than former tech and Silicon Valley projects-literally.

Light Your Free Payer Candle for a departed loved one

What is Palm Sunday?

Live on March 20, 2024 @ 10am PDT

Highlights

By Matt Waterson (NEWS CONSORTIUM)
Catholic Online (https://www.catholic.org)
1/9/2015 (9 years ago)

Published in Business & Economics

Keywords: Pot, Marijuana, Seattle, Founders Fund

LOS ANGELES, CA (Catholic Online) - Peter Thiel is investing multiple millions of dollars into Privateer Holdings, a Seattle-based marijuana growing, production, distribution and information company that owns several marijuana brands. Privateer Holdings underwent a $75 million fundraising drive in 2014.

Combat corruption with moral education; send a Bible to a child, or another person in need.

Geoff Lewis, the lead of Founders Fund's investment into Privateer Holdings, said he believes the legalization of marijuana for personal use is inevitable, and the markets should be tapped ahead of time.


Currently, 23 states allow marijuana to be used for medical purposes, and Colorado has legalized it for recreational use.

"Public sentiment is there, and it crosses political lines," he said.

However, there is still public distaste for the drug. In Nebraska and Oklahoma, lawsuits have been filed in an attempt to overturn the legalization of marijuana in that state. Those who filed the lawsuits claim that they are seeing massive increases of marijuana use and trafficking within their own states, which border Colorado.

Founders Fund is not expecting quick returns from its investment into Privateer Holdings. Lewis knows that the legalization of marijuana for recreational use in the wider U.S. will not happen soon, but they do believe that Privateer Holdings can create marijuana brands that are viewed as reliable and trusted by the American people.

2015 can be your year for spiritual health!

Privateer Holding's CEO, Brendan Kennedy, believes that this investment from Founders Fund will mean more investments from professional investment firms in the future.

"One of the important milestones for this business is having access to capital, and significant capital," Kennedy said. "There will be a lot of people who wake up and realize they need to look at this industry just as they have looked at other emerging industries around the world."

---


'Help Give every Student and Teacher FREE resources for a world-class Moral Catholic Education'


Copyright 2021 - Distributed by Catholic Online

Join the Movement
When you sign up below, you don't just join an email list - you're joining an entire movement for Free world class Catholic education.

Lent logo
Saint of the Day logo

Catholic Online Logo

Copyright 2024 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2024 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.

Catholic Online is a Project of Your Catholic Voice Foundation, a Not-for-Profit Corporation. Your Catholic Voice Foundation has been granted a recognition of tax exemption under Section 501(c)(3) of the Internal Revenue Code. Federal Tax Identification Number: 81-0596847. Your gift is tax-deductible as allowed by law.