Jay-Z Creates $10 Million Fund to Help Increase Minority-Owned Cannabis Companies
Jay-Z launches $10 million fund for minority-owned pot companies
The Wall Street Journal reports, Hov is launching a fund to invest in minority-owned cannabis startups in hopes to usher in more Black participation in the cannabis industry.
The Brooklyn-born rap mogul aims to diversify the legal pot industry by investing in cannabis firms owned by black people and other minorities who have borne the brunt of laws that kept the drug illegal for decades.
“We were the ones most negatively affected by the war on drugs, and America has turned around and created a business from it that’s worth billions,” Jay-Z told The Wall Street Journal.
"We were the ones most negatively affected by the war on drugs, and America has turned around and created a business from it that’s worth billions," Jay-Z said to WSJ. "I wanted to do something in a real, concrete way, where I do my part."