Founders Fund Invests in Cannabis Space, Backs Privateer Holdings
January 09, 2015
Founders Fund, a San Francisco-based venture capital firm that invests in sectors including aerospace, AI, energy, health and consumer Internet, has joined a $75 million Series B financing round for Privateer Holdings, a company that makes strategic acquisitions and investments in the cannabis industry. The Series B, which gives Privateer a $416 million pre-money valuation, is expected to close in a few weeks. Founders Fund partner Geoff Lewis reportedly led the firm's investment. The company previously raised $7 million of Series A funding from angel investors at a $25 million pre val in July 2013.