Privateer Holdings Explained

Privateer Holdings
Industry:Private equity firm
Founders:Brendan Kennedy
Michael Blue
Christian Groh
Location City:Seattle, Washington
Location Country:United States

Privateer Holdings is an American private equity company that invests in the legal cannabis industry.[1] [2] It is headquartered in Seattle, Washington and employs more than 350 people in seven countries.[3]

Privateer Holdings secured the first institutional investor to enter the cannabis industry, Founders Fund.[4] In 2019, Privateer Holdings was merged with Tilray.[5] [6]

History

The company was founded by Brendan Kennedy, Michael Blue, and Chris Groh on October 20, 2011.[6]

Portfolio companies

Privateer Holdings portfolio companies include: Leafly, Tilray, and Marley Natural, a partnership with the Bob Marley estate launching a line of cannabis-focused goods.[7]

Privateer Holdings acquired Leafly in 2011. In 2014, Leafly became the first cannabis company to place an advertisement in the New York Times.[8]

Privateer owns 76 percent of Tilray Inc.,[9] a company federally licensed by the Government of Canada to produce, process, package and distribute medical cannabis. The company operates a 60,000 sq. ft medical cannabis research and production facility in Nanaimo, British Columbia., Tilray supplied pharmaceutical-grade medical cannabis products and had raised $122 million.[10] Tilray's primary market is Canada, where it serves more than 20,000 patients, but the company also exports medical cannabis products to other countries. Tilray was the first company to legally export medical cannabis products from North America to Australia, Brazil, Chile, the European Union, and New Zealand.[11] [12] [13] [14]

Tilray became the first medical cannabis producer in North America to be GMP certified in December 2016.[15] GMP certification is the most rigorous standard that manufacturers of medical products must meet in their production processes. GMP certification allows Tilray to create products for clinical research., Tilray supplies pharmaceutical-grade medical cannabis products for three different clinical trials in partnership with hospitals and universities in Canada and Australia.

In November 2014, Privateer Holdings and Bob Marley's daughter Cedella launched the cannabis brand Marley Natural developed by the Marley family in conjunction with Privateer.[16] Marley Natural launched its inaugural collection of cannabis products, body care, and smoking accessories in Los Angeles, California in February 2016.[17], the brand sells cannabis in California, Oregon, and Washington.[18]

External links

Notes and References

  1. Web site: Groups waiting to cash in on pot sales in Washington. February 14, 2013. Fox 12 KPTV. April 7, 2013. March 29, 2013. https://web.archive.org/web/20130329112628/http://www.kptv.com/story/21198594/groups-waiting-to-cash-in-on-pot-sales-in-washington. live.
  2. News: The Audacity of Dope. February 16, 2013. The Economist. April 7, 2013. May 1, 2013. https://web.archive.org/web/20130501173242/http://www.economist.com/news/finance-and-economics/21571898-fund-seeks-opportunity-weed-audacity-dope. live.
  3. Web site: Privateer Holdings Closes $40 Million in Convertible Note Financing. www.businesswire.com. 4 November 2016. en. 2017-04-03. 2017-04-04. https://web.archive.org/web/20170404043139/http://www.businesswire.com/news/home/20161104005097/en/Privateer-Holdings-Closes-40-Million-Convertible-Note. live.
  4. Web site: Lawler. Ryan. Privateer Holdings Closes $75 Million In Funding To Create The P&G Of Pot. TechCrunch. 7 April 2015. 12 April 2017. 13 April 2017. https://web.archive.org/web/20170413073025/https://techcrunch.com/2015/04/06/they-should-have-announced-at-420/. live.
  5. Tilray, Inc. Completes Merger with Privateer Holdings, Inc . 13 December 2019 . 17 September 2022 . 20 September 2022 . https://web.archive.org/web/20220920171355/https://www.businesswire.com/news/home/20191213005056/en/Tilray-Inc.-Completes-Merger-With-Privateer-Holdings-Inc . live .
  6. Web site: Tilray Closes Merger With Privateer. Forbes. December 17, 2019. Iris Dorbian. September 21, 2024.
  7. Web site: Portfolio — Privateer Holdings . Privateerholdings.com . 2015-08-12 . 2015-08-17 . https://web.archive.org/web/20150817082207/http://www.privateerholdings.com/portfolio/ . live .
  8. Web site: Tadena. Nathalie. Why Cannabis Company Leafly Bought A Full Page Ad in the New York Times. Wall Street Journal. Dow Jones. 2017-04-12. 2017-04-13. https://web.archive.org/web/20170413073129/https://blogs.wsj.com/cmo/2014/08/03/why-cannabis-company-leafly-bought-a-full-page-ad-in-the-new-york-times/. live.
  9. Web site: Peter Thiel-Backed Fund Hits the Jackpot With $12 Billion Tilray Stake . Bloomberg . September 19, 2018 . September 20, 2018 . September 20, 2018 . https://web.archive.org/web/20180920120610/https://www.bloomberg.com/news/articles/2018-09-19/thiel-backed-fund-hits-jackpot-with-12-billion-tilray-stake . live .
  10. Web site: Cannabis investor Privateer Holdings tacks on another $40 million in funding. www.techcrunch.com. 4 November 2016. en. 2017-04-03. 2017-04-04. https://web.archive.org/web/20170404044903/https://techcrunch.com/2016/11/04/cannabis-investor-privateer-holdings-tacks-on-another-40-million-in-funding/. live.
  11. News: Canadian medical marijuana exports begin with Tilray's deal with Croatia, Australia. CBC News. 2017-04-03. en. 2017-04-04. https://web.archive.org/web/20170404130938/http://www.cbc.ca/news/business/tilray-export-marijuana-1.3628554. live.
  12. News: Tilray to export medical cannabis to New Zealand - Marijuana Business Daily. 2017-02-15. Marijuana Business Daily. 2017-04-03. en-US. 2017-04-04. https://web.archive.org/web/20170404044648/https://mjbizdaily.com/tilray-to-export-medical-cannabis-to-new-zealand/. live.
  13. News: Medicinal cannabis imported by Victorian government to treat ill children. Spooner. Rania. 2017-03-01. The Age. 2017-04-03. en-US. 2017-04-04. https://web.archive.org/web/20170404130924/http://www.theage.com.au/victoria/medicinal-cannabis-imported-by-victorian-government-to-treat-ill-children-20170301-gunwvp.html. live.
  14. News: Tilray to begin exporting MMJ from Canada to Chile - Marijuana Business Daily. 2017-02-02. Marijuana Business Daily. 2017-04-03. en-US. 2017-04-04. https://web.archive.org/web/20170404044806/https://mjbizdaily.com/tilray-to-begin-exporting-mmj-from-canada-to-chile/. live.
  15. News: Tilray grows capacity in North America's only GMP cannabis facility. in-PharmaTechnologist.com. in-PharmaTechnologist.com. 2017-04-03. en-GB. 2024-03-16. https://web.archive.org/web/20240316152043/https://www.outsourcing-pharma.com/Article/2017/02/16/Tilray-grows-capacity-at-North-America-s-only-GMP-cannabis-facility. live.
  16. News: Bob Marley family launches "first world cannabis brand". 19 November 2014. BBC. 19 November 2014. 4 April 2019. https://web.archive.org/web/20190404175115/https://www.bbc.co.uk/news/world-latin-america-30110235. live.
  17. Appleford. Steve. Marley Natural: Inside Reggae Dynasty's Splashy L.A. Cannabis Launch. Rolling Stone. 2017-09-08. 2017-11-16. https://web.archive.org/web/20171116144617/http://www.rollingstone.com/music/news/marley-natural-inside-reggae-dynastys-splashy-l-a-cannabis-launch-20160208. live.
  18. Web site: Staff. Marley Natural Premium Cannabis Products Launch In Washington. Jamaica Gleaner. 11 April 2017. 12 April 2017. 11 April 2017. https://web.archive.org/web/20170411095346/http://jamaica-gleaner.com/article/news/20170411/marley-natural-premium-cannabis-products-launch-washington. live.

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