JAY-Z Launches $10 Million Fund for Minority-Owned Cannabis Startups
[ad_1] JAY-Z is putting $10 million into a fund for minority-owned cannabis startups. The Roc Nation mogul wants to diversify the marijuana business by investing in cannabis companies owned by minorities, who have been disproportionately affected by the war on drugs and excluded from the multibillion-dollar legalized pot market. “It’s really unbelievable how that can happen,” 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 is starting his fund with $10 million in seed money received as part of the $575 million acquisition of two California-based cannabis companies–CMG Partners Inc. and...