Chris Webber, five-time NBA All-Star, entrepreneur, and founder of Webber Wellness, has announced a partnership with Jason Wild and JW Asset Management, LLC (“JW”) to launch a $100 million private equity cannabis fund that will invest in companies led by minority entrepreneurs pursuing careers in the cannabis sector.
“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,” said Webber. “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.”
The duo of Webber Welnlness and JW Asset Management is collaborating to represent entrepreneurs in the cannabis industry to provide business resources spanning reasearch and development (R&D), cultivation, retail licensing and more.
“It’s crucial that we diversify leadership within the cannabis industry and level the playing field for people from our communities,” said Webber. “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.”
“The legal cannabis industry can only grow to its full potential when all stakeholders have a seat at the table, and I feel that it is my responsibility to play an active role in eliminating barriers to entry for individuals that have been disproportionately targeted by the War on Drugs,” said Jason Wild, Founder and Chief Investment Officer of JW Asset Management. “I look forward to partnering with Chris and his team to elevate talented entrepreneurs and build a more inclusive industry.”