Cannabis company CEO Christine De La Rosa has won seed backing from the family office of a Silicon Valley investor for her debut $50 million venture capital fund aimed at minority entrepreneurs in the legal marijuana business.
The People’s Group Fund will deploy from $250,000 to $1 million-plus per investment to cannabis businesses owned by women, African-Americans, indigenous people, and people of color.
“The cannabis industry was created by Black and brown people in the informal market,” Del La Rosa said in an interview. “My company came out of the legacy market and transitioned into the legal market. We’re building an ecosystem through the fund to invest in really amazing founders with really great existing businesses or business startups.”
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