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Silicon Valley insiders are making a big $30 million investment in Canada.
Why Canada? Because the country of 36 million people has become ground zero for legal weed. The government is aggressively pushing forward 100% legalization by July 1st, 2018. And established capital markets make it easy for companies to raise capital.
Canada is years ahead of the U.S. in this market that could be worth $50 billion in annual North American sales, according to Bloomberg.
That company is named Privateer Holdings, and has the backing of one Silicon Valley heavyweight.
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Silicon Valley “Smart Money” Invests in Legal Weed
Privateer Holdings has developed a portfolio of companies that operate in the legal cannabis market. That includes U.S. states where cannabis is legal, as well as Canada. It’s one of the best-financed private companies in the cannabis sector.
One of the firm’s most important backers is Peter Thiel’s Founders Fund. Thiel founded PayPal with Elon Musk and was an early investor in Facebook, turning his $500k investment into more than $2 billion.
Following those successes, Thiel founded his own venture capital firm called Founders Fund. He’s since invested in notable early stage growth companies including Airbnb, Lyft, Palantir, Stripe and Spotify.
The Founders Fund has also been a big backer of Privateer Holdings since 2015. Partner Geoff Lewis explained why the firm invested in Privateer:
“Privateer Holdings has emerged as the market leader in legal cannabis, which we believe will become a massive industry within the next decade. We’ve been evaluating the cannabis industry for several years and we haven’t seen another company that comes close to Privateer Holdings in terms of strategy, professionalism, talent, expertise, and potential for growth.”
The seven-year-old company has raised a total of $180 million from investors, after closing a $58 million financing last week.
The latest financing will be used to make a major expansion into cannabis production in Canada.
$30 Million Expansion, Before Legalization in 2018
Privateer owns a fully licensed cannabis company called Tilray. In British Columbia, Tilray operates a 60,000-square foot medical cannabis research and production facility and serves 20,000 medical patients.
As Canada prepares to fully legalize cannabis for recreational use on July 1st, 2018, Canadian companies are rushing to boost their production.
That’s exactly why Privateer is raising more money right now.
The company is investing $30 million Canadian ($24 million USD) into a property located in Enniskillen Township, Ontario. That’s less than 90 miles from Detroit, Michigan.
The farm is currently known as Enniskillen Pepper Company. With 100-acres and 13 acres of existing greenhouse space, there is lots of room for Tinray to grow.
Tilray’s new cannabis farm in Ontario
Initially, Tilray will use 10 acres of greenhouse space and a 40,000-square foot processing facility.
Once the new facility is operational, Tilray will be able to produce up to 43,000 kilograms of cannabis per year by 2018. That’s a 5-times increase from Tilray’s current production. Longer-term, Tilray plans to increase production to 100,000 kilograms per year.
Tilray plans to cash in on Canada’s legalization. The company realizes that legalization is happening around the world, and was the first North American company to legally export cannabis. Thus far, Tilray has been exporting to Australia, Chili, Croatia, Cyprus, and New Zealand.
Now, Privateer and Tilray are privately held companies. And that means they are OFF LIMITS to regular investors.
My research has uncovered the very best publicly traded Canadian cannabis companies. These companies are expanding rapidly and plan to cash in on full legalization in 2018.
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Ian Wyatt