Thiel-Backed Fund Hits Jackpot With $12 Billion Tilray Stake
- Seattle-based Privateer holds 76% of Canadian marijuana firm
- Tilray stock tops $200 as Canada gets set for legalization
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The massive surge in pot stock Tilray Inc. has delivered a multi billion dollar windfall for a little-known private equity fund backed by investor Peter Thiel.
Privateer Holdings Inc., a Seattle-based fund started seven years ago to focus on the marijuana business, holds 76 percent of Tilray, a stake now worth more than $12 billion after the stock soared more than 10-fold from its July public offering.