Jay-Z named Chief Visionary Officer of new cannabis company, TCPO Holding Corp
Shawn Carter, aka Jay-Z, has been named Chief Visionary Officer of a new California-based cannabis company called TPCO Holding Corp.
TPCO (The Parent Company) has been formed via the acquisition by Canada-based Subversive Capital Acquisition Corp – a special purpose acquisition company (SPAC) – of two California-based cannabis companies including Left Coast Ventures and Caliva, which Jay-Z previously struck a partnership with in 2019.
In case you missed it, Jay Z announced Monogram, his new cannibus brand, last month.
According to an investors’ presentation, the merging of Jay-Z, Roc Nation, Caliva, and Left Coast Ventures, will dominate the cannibus industry in California and eventually the country.
Jay-Z and Roc Nation will lead the new company’s brand strategy and marketing, leveraging decades on unmatched influence and style.
He will also lead TPCO Social Equity Ventures, a corporate venture fund with an initial target of $10m and an annual contribution of at least 2% of its net income to invest in minority-owned and Black-owned cannabis businesses and contribute to the effort to rectify the wrongs of prohibition through initiatives that are working toward meaningful change in the criminal justice system.
These initiatives will include bail reform, industry vocational training, job placement, expungement clinics and Social Equity application support.
Learn more about Subversive Capital, https://www.subversivecapital.com