Venture Capital Firm Founders Fund Invests in Marijuana Company
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sarra22/iStock/Thinkstock(SAN FRANCISCO) — Until now, many banks and investors have kept their distance from marijuana money because all forms of pot are illegal under federal law.
But now, Founders Fund — a $2 billion San Francisco venture capital firm run by Silicon Valley stars, including the man who founded PayPal — is investing in Privateer Holdings, a marijuana company that owns a bunch of pot-related brands.
The companies won’t give exact numbers, except to say it is a multi-million dollar deal.
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