Chris Webber is creating a financial initiative for the cannabis industry.
The TNT broadcaster is supporting underrepresented minority entrepreneurs in the cannabis industry with a generous $100 million contribution to a private equity fund.
“It’s crucial that we diversify the leadership in 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,” he added.
Webber announced he is partnering with JW Asset Management whose portfolio is comprised of investments in cannabis funds.
Per Front Office Sports: the lack of diversity among dispensary owners and growers is an oft-publicized issue by state governments and lobbyists in legal cannabis markets.
Webber is taking a proactive approach to changing the industry.