PayPal Co-Founder Is First-Ever Million-Dollar Investor For Medical Cannabis

The Founders Fund, Peter Thiel’s venture capital firm, confirmed it is taking a minority stake in Privateer Holdings – a company that invests in a Canadian medical marijuana growing operation – and Leafly, a Yelp-type review website for marijuana dispensaries. Privateer was looking for a $75 million funding round, but Thiel’s firm has not disclosed how much they’ve contributed beyond “multi-millions” of dollars.

PayPal co-founder Peter Thiel is investing millions of dollars in a Seattle-based company that owns a popular marijuana venture. Under America’s federal laws, however, marijuana is still considered illegal throughout most of the country.

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