There was an enterprising capitalist element to the Munster plantations. Privateers and the enterprising public could buy land in Munster at pennies an acre as undertakers, sometimes backed by private investors. Sir Walter Raleigh owned large estates in Munster and harvested the forests around his estate to make tobacco pipes and wine barrels, although his company proved unprofitable. However, other investors made a fortune off the plantations. Businessman Robert Payne advocated for settlers to come to the Munster colonies. He bought land holdings in Munster for his venture, recruiting 25 business partners and partnering with industrialist Francis Willoughby. Willoughby was a sleeping partner in a project aimed at establishing an ironworks in the Munster colonies. Daniel Gookin, a Munster colonist, sold his lands in Carrigaline and his company in Munster to the ultimate capitalist-colonialist of the period, the newly-created Richard Boyle, 1st Earl of Cork. He then partnered with another Munster colonist, Captain William Newce, to invest in the newly-formed Virginia Company and helped establish the colony at Jamestown in North America.