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You are here: Home / Archives for Peter Thiel

Pitching Marijuana Startups Brings New Meaning To High Tech

January 27, 2015 by MJ News Network Leave a Comment

CALIFORNIA: Investing in a social network closely tied to a booming industry sounds great, until Apple kicks the thing you invested in out of the App Store because the platform is all about marijuana.

It’s one of the many things that can happen when two of the fastest growing industries in America come together, as is taking place this week in San Francisco, where several dozen entrepreneurs are pitching 200 or so investors, Shark Tank style.

Organizers of the investor-pitch forum cite as legitimacy the recent multimillion dollar investment by Silicon Valley titan Peter Thiel‘s Founders Fund in a holding company of several marijuana-related firms. The entrepreneurs at the Fairmont Hotel are pitching startups selling marijuana-growing equipment, apps that help with medicinal marijuana delivery, and even a spray that an entrepreneur says was developed at the Lawrence Livermore National Laboratory that coats marijuana with grower information, acting as a kind of DNA bar code.

“It’s more suited to what cannabis would be in the future,” says DNA Trek founder Anthony Zografos.

Since Colorado and Washington first voted to legalize recreational marijuana use in late 2012, the legal cannabis market has grown from $1.5 billion in 2013 to $2.7 billion last year, according to industry estimates. That kind of velocity gets the attention of investors, many of whom focus on tech.

Filed Under: Business Tagged With: ArcView, cannabis and technology, Finances, financing your marijuana business, funding, High Tech, marijuana startup, marijuana technology, PayPal, Peter Thiel, pitching, The ArcView Group, the business of marijuana

Peter Thiel’s Fund Invests In Marijuana Equity Firm

January 9, 2015 by MJ News Network 1 Comment

WASHINGTON:  Peter Thiel, one of the early investors in Facebook, Lyft and Spotify, is turning his attention to marijuana.

Founders Fund announced Thursday that it has made a multi-million-dollar investment in Privateer Holdings, the world’s first private equity firm investing exclusively in the legal cannabis market. Founders Fund is backed by Peter Thiel, a co-founder of PayPal. Founders Fund has more than $2 billion in assets under management.

“Founders Fund is known for making some of the most lucrative and radically transformational investments of the past decade,” Privateer Holdings CEO Brendan Kennedy said in announcing the deal. “With this investment they are signaling that they, like us, believe that the end of prohibition and the social harms it causes is inevitable.”

 

Filed Under: Business, Homepage Tagged With: Brendan Kennedy, cannabis, end of failed war on drugs, Founders Fund, legalization, marijuana, marijuana business, marijuana investment company, PayPal, Peter Thiel, Privateer Holdings, WA, Washington

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Oregon Legislators, Law Enforcement, Licensees Tell OLCC “Illegal Cannabis Threatens All of Us”

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California Cannabis Control Summit Returns Live October 12-13, 2022

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OLCC Cannabis Industry Listening Session Is June 15th

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Black Market Group Announces California Launch of ‘Higher Frequency Flower’ Cannabis Brand Founded by Hip Hop Legend Rakim on BET Weekend

ASTM International New Standard Provides Specifications for Hempseed Food Products

California Cannabis Control Summit Returns Live October 12-13, 2022

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