Privateer, backed by Peter Thiel, gets boost from its stake in Tilray

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Leafly is a social network on which users can share advice on different products and dispensaries. Tilray produces and distributes cannabis and researches ways to use it. The two others make products containing cannabis, such as hand cream and chocolate.

The surge of interest in companies that are connected to the marijuana industry comes as a few large consumer product companies step into the mix. Constellation Brands, the maker of Corona beer, has an 8 percent stake in Canopy Growth, Canada’s largest medical marijuana producer. Shares of Canopy also had a wild ride on Wednesday but closed down nearly 5 percent. Coca-Cola has also said it was looking at the industry.

A spokesman for Privateer said the firm didn’t want to comment on Tilray’s stock moves.

Privateer has raised money in prior rounds from Founders Fund, the firm run by Silicon Valley mogul Peter Thiel, and other small funds such as Subversive Capital, whose Michael Auerbach sits on Tilray’s board as well as Privateer’s board.

Privateer founders Brendan Kennedy, Michael Blue and Christian Groh have committed their own money to “help communities harmed by cannabis prohibition,” according to a firm announcement earlier this year.



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