• Loading stock data...
Sunday, October 19, 2025

Chris Webber Launches $100M Cannabis Fund

  • Webber’s fund is focused on racial equity.
  • JW Asset Management’s portfolio already includes substantial investments in cannabis funds.
Photo: Brett Davis-USA TODAY/Design: Alex Brooks

Former NBA star Chris Webber is creating a $100 million private equity fund to support underrepresented minority entrepreneurs in the cannabis industry. 

Webber, who now works as a TNT commentator, will partner with JW Asset Management, whose portfolio already has substantial investments in cannabis funds.

“It’s crucial that we diversify the leadership in the cannabis industry and level the playing field for people from our communities,” Webber said in a statement. “For far too long, minorities have been excessively punished and incarcerated for cannabis while others profited.”

The lack of diversity among dispensary owners and growers is an oft-publicized issue by state governments and lobbyists in legal cannabis markets. In the past few years, Massachusetts wrote equity-related provisions into its cannabis regulations, and Oakland created a program to promote cannabis entrepreneurship among minority and low-income residents.

The booming industry, spurred by recreational legalization in 15 states and Washington D.C., has been a magnet for athlete investors.

  • In 2019, NFL legend Joe Montana’s venture firm invested $75 million in California cannabis company Caliva.
  • Ricky Williams, Calvin Johnson and Rob Gronkowski have all invested in cannabis funds, as have Mike Tyson and John Salley. Former Seattle Supersonics star Shawn Kemp stocks former teammate Gary Payton’s Cookie brand cannabis at his dispensary in the city.

At the beginning of February, senators Cory Booker (D-NJ), Ron Wyden (D-OR) and Chuck Schumer (D-NY) issued a joint statement promising to “advance comprehensive cannabis reform legislation” and “enact measures that will lift up people who were unfairly targeted in the War on Drugs.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

opinion

Is Sports Investment ‘Bulletproof’?

An NFL alum turned UBS exec says the game has changed.
GetYourGuide has raised $194 million at a $2 billion valuation.

Justin Jefferson, Khris Middleton Invest in GetYourGuide Startup Worth Nearly $2 Billion

GetYourGuide raised $194 million total at a $2 billion valuation.
The Sky were recently valued at $85 million.

Dwyane Wade Interested in Investing in Chicago Sky, per Report

Wade already owns stakes in the Utah Jazz and Real Salt Lake in MLS.
Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.

Harry Kane Invests in OxeFit, Fitness Startup Reaches $45 Million in Funding

Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.

Featured Today

@chef__tezz/Instagram

Inside the NFL’s Private Chef Network

Private chefs are the unsung architects of player performance, balancing science, taste, and the demands of professional football.
October 18, 2025

How Vanderbilt Went From SEC Doormat to Dark Horse CFP Candidate

After beating LSU, Clark Lea said: “Internally, we expect to win.”
May 27, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard T.J. McConnell (9) shoots a three point basket over New York Knicks guard Josh Hart (3) during the third quarter of game four of the eastern conference finals for the 2025 NBA Playoffs at Gainbridge Fieldhouse
October 18, 2025

NBA Stars Swap Wine With League Friends and Foes

A wine-exchange tradition emerged from the bubble season’s close quarters.
May 25, 2025; Indianapolis, Indiana, USA; Derek Jeter walks the red carpet on Sunday, May 25, 2025, ahead of the 109th running of the Indianapolis 500 at Indianapolis Motor Speedway
October 16, 2025

The Players’ Tribune Is Still Kicking 11 Years Later

Founder Derek Jeter is still closely involved in the publication.
Jan 8, 2024; Philadelphia, Pennsylvania, USA; Philadelphia Flyers goaltender Carter Hart (79) makes a save against the Pittsburgh Penguins during the second period at Wells Fargo Center

Golden Knights Add Hockey Canada Trial’s Carter Hart

Hart is the only acquitted player to sign with an NHL team.
Nov 28, 2023; Newark, New Jersey, USA; New Jersey Devils center Michael McLeod (20) celebrates his goal against the New York Islanders during the first period at Prudential Center. Mandatory Credit:
October 9, 2025

Hockey Canada Trial’s Michael McLeod Signs Outside NHL

Fans in Carolina protested the team’s interest in the Hockey Canada 5.
Tiger Woods of Jupiter Links GC sits during a break in their TGL golf match against Atlanta Drive GC at SoFi Center on March 4, 2025, in Palm Beach Gardens, Florida.
October 13, 2025

Latest Tiger Woods Surgery Bad News for TGL, PGA Tour Champions

Woods is recovering from his seventh back surgery in 11 years.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Bucks
October 7, 2025

Bucks Reportedly Discussed Giannis Deal With Knicks This Summer

Antetokounmpo’s future will be a major NBA storyline this year.
Napheesa Collier
October 5, 2025

WNBA Tensions Heat Up With Canceled Collier–Engelbert Meeting

The commissioner denied Collier’s version of events at a press conference Friday.
Caitlin Clark
October 3, 2025

Cathy Engelbert Denies Saying Caitlin Clark Should Be ‘Grateful’ For WNBA

“Obviously I did not make those comments.”
Caitlin Clark
exclusive
October 2, 2025

Caitlin Clark Will Not Join Second Season of Unrivaled

The Fever star struggled with several injuries in her second WNBA season.