Jay-Z invests $ 10 million in cannabis fund for minorities in the cannabis business

by Team Inc.

January 26, 01- Jay-Z puts $2021M in cannabis fund for minorities in the cannabis business

Jay-Z raises $ 10 million for a fund set up to invest in minority-owned cannabis businesses. The legendary rapper told The Wall Street Journal that he was triggered by the imbalance in the marijuana business, where people of color have been disproportionately punished for illegal use of the drug.

Carter also stressed that those same individuals are just a small number of those who make money from the legal cannabis industry.
“We were the ones hardest hit by the war on drugs. America has now changed its attitude, creating a billion dollar business, ”Carter told WSJ.

The $ 10 million invested by Carter is the result of a recent merger of two California-based cannabis companies, CMG Partners Inc. and Left Coast Ventures Inc. Carter also recently launched his own cannabis line called Monogram.

Inclusive cannabis industry

"The end of cannabis prohibition is here, we will build a more comprehensive and inclusive cannabis industry," Carter said in a statement. “The brands we build will redefine growth, social impact and social fairness. This is our time. ”

Read more markets.businessinsider.com (Source, EN)

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