Ex-NBA Star Chris Webber, JW Asset Launch $100 Million Cannabis Fund
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Former NBA All-Star player Chris Webber is launching a private-equity fund with $100 million in assets to support entrepreneurs from minority groups in the cannabis industry.
Webber will join forces with JW Asset Management, an active investor in the sector, to provide entrepreneurs of color with resources in areas including research and development, retail licensing and marketing. Minority entrepreneurs have largely been denied access to the booming cannabis industry because of social and financial barriers, the two parties said in a statement Tuesday.