The five-time NBA All-Star and Founder of Webber Wellness has teamed up with Jason Wild and JW Asset Management to create a $100 million private equity cannabis fund to invest in Black and POC entrepreneurs.
“As our country moves closer to federal legalization, I believe it is more important than ever to empower the next generation of cannabis leaders in a tangible way,” Webber said in a statement. “I’m thrilled to team up with Jason on this endeavor—he’s a visionary in this industry and understands the urgency of supporting minority business leaders in this space.”
Webber Wellness and JW provide underrepresented entrepreneurs with access to a number of business resources, including research and development, cultivation, retail licensing, distribution, branding, and marketing. As the cannabis industry continues to grow, disparities exist between white and Black and POC cannabis entrepreneurs.
“It’s crucial that we diversify leadership within the cannabis industry and level the playing field for people from our communities,” Webber said. “For far too long, minorities have been excessively punished and incarcerated for cannabis while others profited. Working with JW, we will equip underrepresented entrepreneurs with the financial resources and industry knowledge to build businesses and thrive.”
Chris Webber appeared on The Complex Sports Podcast on Tuesday to discuss his work in the cannabis industry, the difficulties of broadcasting during this unprecedented time, and more.