Editor's Note: Peter Thiel is an entrepreneur and venture capitalist, who is probably best known for his co-founding with Max Levchin and Elon Musk of PayPal, where he also served as CEO, so this is an impressive source of investment for Privateer. Privateer has made its own waves in the cannabis business with its recent partnership with the Bob Marley family on the Marley Natural global cannabis brand.Â
Some key points:Â "The founders may launch their own weed-focused investment fund, too, so Privateer can pour money into external cannabis companies." … "Privateer hopes to be the leader across everything from growing and processing various strains of marijuana to supplying and shipping it. It also plans to get into the accessory business, selling devices like pipes and vaporizers to users."
Earlier this year, Peter Thiel caused a stir when he accused Twitter's management of being high on pot.
He later backed away from his comments, saying, "You could smoke a lot of pot and still have a great company, if the business model is as robust as Twitter's."
And Thiel would know, because, as it turns out, he's investing in a marijuana startup.
Thiel's Founders Fund is likely participating in a large round of financing in a cannabis startup, Privateer.
