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Thiel-Backed Firm Raises $100 Million More for Pot Investments

  • Latest closing brings firm’s fundraising total to $200 million
  • CEO sees ‘global paradigm shift when it comes to cannabis’
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Peter Thiel Is Silicon Valley's Walking Contradiction

A private equity firm backed by billionaire Peter Thiel has raised an additional $100 million to invest in marijuana companies, a sign of the unflagging appeal of the pot industry in the face of a potential crackdown by U.S. Attorney General Jeff Sessions.

Privateer Holdings said on Thursday that the latest closing brings its fundraising total to $200 million, a record for a private company in the nascent cannabis industry. Though based in Seattle, Privateer looks mostly outside the U.S. for investment opportunities, mindful of the risks posed by the Trump administration. Earlier this month, Sessions rescinded an Obama-era policy that helped states legalize marijuana for recreational use.