The state of New York has chosen “premier minority-led investment team” Social Equity Impact Ventures to manage its $200 million marijuana industry social equity investment fund.
Social Equity Impact Ventures is described as a joint venture between a group run by former NBA star Chris Webber and entrepreneur Lavetta Willis and “a firm affiliated with” financial services company Siebert Williams Shank (SWS). SWS is led by CEO Suzanne Shank and Chief Administrative Officer William Thompson, a former New York City comptroller.
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The Social Equity Cannabis Investment Fund is “a public-private limited partnership that will be formed to position social equity entrepreneurs to succeed in New York’s newly-created adult-use cannabis industry,” according to a Wednesday news release from the office of Gov. Kathy Hochul.
The fund will help as many as 150 conditional adult-use retail dispensary licensees “who have been impacted by the inequitable enforcement of marijuana laws”
Read full article on Marijuana Business Daily
