One of the nation’s leading marijuana investment groups is bringing on its second former federal official.
Tosetti, a commercial banking veteran, will come on board as Privateer’s director of treasury compliance, leading the “development of new financial solutions for the cannabis industry,” the firm noted. He will also ensure that Privateer abides by complex financial regulation in the legal cannabis industry.
In a statement, Chief Financial Officer Michael Blue called the hiring “another strategic milestone.”
Tosetti is now Privateer’s second former U.S. federal official. In December 2013, it hired former DEA criminal investigator Patrick Moen to be its managing director of compliance and general counsel.
Founded in 2011, Privateer owns marijuana-oriented brands like Leafly, Tilray and Marley Natural. It employs more than 250 across its portfolio companies and raised its last round of capital at a whopping $415 million pre-money valuation.