Jay-Z Launches $ 10 Million Fund for Minority Cannabis Business Startups


Jay-Z spreads its philanthropic touch on cannabis and shakes hands with minority cannabis startups. Although he’s just launched his own cannabis brand, Monogram, he’s not afraid of the sweat. His Social Equity Ventures Fund initiative will give selected cannabis companies up to $ 1 million.

In a statement from Jay-Z, he expressed the need to replenish the drug-ravaged black community with some sort of redemption for the pain the war on drugs has caused. The parent company, which will assist HOV in this effort, has allocated $ 10 million for the pursuit and will continue to give 2% of the company’s annual net income to Social Equity Ventures each year.