Private Equity Firing Up Medical Reefer Sector

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Any day now, it will embark on a $50 million target raise. “Things have changed,” said Brendan Kennedy, Privateer’s CEO. In 2012, the medical marijuana industry was hampered by regulatory uncertainty, clashing federal and state laws and reluctant investors. The uncertainty hasn’t entirely gone away as the distribution and sale of marijuana are still illegal under federal law. However, 22 states and the District of Columbia have laws in place making medical marijuana legal within their own jurisdictions, and legislation is pending in New York, Florida, Ohio and Pennsylvania. Colorado and Washington have made recreational use permissible.

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