Jay-Z is launching his own Cannabis Investment Fund

In an effort to redress the injustices inflicted on the black community by America's war on drugs, Jay-Z has announced that he is launching a mutual fund aimed at helping minority entrepreneurs get their start in the burgeoning cannabis industry . "It's really incredible how that can happen," the rapper and mogul, whose real name is Shawn Carter, told the Wall Street Journal in a story published Wednesday. "We were the ones most negatively affected by the war on drugs, and America turned around and turned it into a billion-dollar business." According to the Journal, Jay-Z is "launching his fund with $ 10 million in seed capital obtained as part of a merger," while also making "a broader push for equitable economic opportunity in the cannabis sector as studies show minorities for the use of drugs were punished more severely than whites. " The journal offered more details about the fund, which grew out of a cannabis project Jay-Z launched this fall. "Mr. Carter's Fund grew out of the $ 575 million acquisition in December of California-based cannabis companies CMG Partners Inc. and Left Coast Ventures Inc. by Subversive Capital Acquisition Corp., a Vancouver-based specialty acquisition company. Im In October, Mr. Carter launched the Monogram cannabis line, which will be a joint venture with the merged company that will be called TPCO Holding Corp., "the newspaper reported. "As part of the subversive deal, TPCO will endow Mr. Carter's fund with $ 10 million and then add an additional 2% of net income each year Pardon Donald Trump on the last day of his presidency. It will invest up to $ 1 million in any startup cannabis company they choose. "