Privateer Holdings is a private equity firm that strategically invests in the emerging legal cannabis industry worldwide. Privateer Holdings is headquartered in Seattle, Washington and employs more than 350 people on the ground in 7 countries and 7 U.S states. The company is focused on building the world's leading portfolio of professional cannabis brands diversified across multiple geographies, sectors and consumer demographics. The company has raised $122 million to date, including $7 million in Series A funding that closed in July 2013, $75 million in Series B funding that closed in March 2015, and $40 million in a Series C convertible note that closed in December 2016. Privateer Holdings is also notable for having secured the first institutional investor to enter the cannabis industry, Founders Fund.
Video Privateer Holdings
Thesis
Privateer Holdings operates under a three-pronged thesis that encompasses the following beliefs:
- Cannabis is a mainstream product consumed by mainstream people.
- The end of cannabis prohibition is inevitable.
- Brands will shape the future of the cannabis industry.
These three principle guide Privateer Holdings' investments into the cannabis marketplace.
Maps Privateer Holdings
Portfolio companies
Privateer Holdings portfolio companies include Leafly, the world's largest cannabis information resource, Tilray, a federally licensed, GMP-certified medical cannabis producer located in Nanaimo, British Columbia, and Marley Natural, a partnership with the Bob Marley estate launching a line of cannabis strains, body care products, smoking accessories, and other lifestyle goods.
Privateer Holdings acquired Leafly in 2011. Leafly is the largest cannabis website in the world, with more than 11 million unique visitors per month. In 2014 Leafly became the first cannabis company to place an advertisement in the New York Times.
Tilray is 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 is currently supplying pharmaceutical-grade medical cannabis products - including whole flower, oils and capsules - to thousands of patients, physicians, pharmacies, hospitals, governments and researchers around the world for commercial, compassionate access and research purposes. 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.
Tilray became the first medical cannabis producer in North America to be GMP certified in December 2016. GMP certification is the most rigorous standard that manufacturers of medical products must meet in their production processes. GMP certification is allowing Tilray to create products for clinical research. Tilray currently supplies pharmaceutical-grade medical cannabis products for three different clinical trials in partnership with hospitals and universities in Canada and Australia:
- The first trial is being conducted in partnership with the University of British Columbia to examine the safety and tolerability of medical cannabis for Canadian military veterans and other patients suffering from PTSD.
- The second trial is being conducted in partnership with the University of Sydney, Chris O'Brien Lifehouse and the New South Wales government to study the safety, tolerability and efficacy of cannabinoids for chemotherapy-induced nausea and vomiting.
- The third trial is examining safety and tolerability of cannabinoids in children with Dravet Syndrome (a severe form of treatment-resistant epilepsy) at Toronto's Hospital for Sick Children.
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. Marley Natural launched its inaugural collection of cannabis products, body care, and smoking accessories in Los Angeles, California in February 2016. The brand currently sells cannabis in California, Oregon, and Washington.
Market
Privateer Holdings' primary market is the medical cannabis area. In Washington, it is estimated that over 360,000 people will shop at state-licensed cannabis dispensaries in 2013, and a 2011 study by See Change Strategy predicted that there would be an $8.9 billion medical-cannabis industry by 2016. Some estimates of the industry's current size range from $14-40 billion, and Privateer Holdings projects that the industry will grow to $50-$75 billion within five years.
Leadership
Brendan Kennedy
Brendan Kennedy, the chief executive officer of Privateer Holdings, is a graduate of the Yale School of Management and received a Master of Engineering from the University of Washington and a Bachelor of Arts from the University of California, Berkeley. Before founding Privateer Holdings, he worked as chief operating officer for SVB Analytics and was the chief executive officer and founder of Mindability, Inc.
Michael Blue
Michael Blue is the chief financial officer and one of three founders at Privateer Holdings. Blue is a graduate of the Yale School of Management and holds a bachelor of business administration from Harding University. In addition to his current positions, he has served in executive-level roles at various investment banking and private equity firms.
Christian Groh
Christian Groh is Partner of Privateer Holdings and one of the three founders for the firm. Groh holds an MBA from San Francisco State University and a Bachelor of Science from California Maritime Academy. Prior to Privateer Holdings, he worked as head of sales for SVB Analytics.
References
External links
- Privateer Holdings official site
Source of the article : Wikipedia
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