Privateer Holdings, a Seattle-based private equity firm, is making a very big ,and what looks to be a very smart, investment as Canada's national medical marijuana law -- Health Canada -- takes effect on April 1, 2014. Privateer has constructed a 35,000 square feet Vancouver facility to grow an estimated 20,000 pounds of pot annually. Called Lafitte Ventures, the Vancouver facility is seeking a license from Health Canada to grow, process, produce and distribute medical cannabis directly to patients who can place orders from the company website.
Appearing in a FORA.tv Studios original new program, Christian Groh, Privateer Holdings COO, describes how Lafitte will employ 40 people and serve between 10,000 and 15,000 patients. One sign that the pot-growing industry is becoming big business: Lafitte recently held a hiring fair in Nainamo. But perhaps a more telling sign: The arrival of investors who will help grow the industry.
Watch an exclusive interview with Groh, hosted by Michael Montgomery of The Center for Investigative Reporting and KQED Public Radio: Profits from Pot: Investing in Legalization.