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Jay-Z joins Caliva, a California marijuana company, as brand chief

Jay-Z joins Caliva, a California marijuana company, as brand chief

FINANCIAL NEWS

Jay-Z joins Caliva, a California marijuana company, as brand chief

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LOS ANGELES – Jay-Z is heading into the legal marijuana industry as a chief brand strategist in partnership with a California cannabis product company.

The rapper said in a statement Tuesday that he entered a multiyear deal with San Jose, California-based Caliva.

His role will consist of driving creative direction, outreach efforts and strategy for the brand.

Jay-Z says he also wants to increase the economic participation of people returning from incarceration through job training and workforce development.

The rapper called Caliva “the best partners for this endeavor.”

“Anything I do, I want to do correctly and at the highest level,” he said in a press release. “We want to create something amazing, have fun in the process, do good and bring people along the way.”

Caliva operates a farm and two stores in Northern California. It also distributes its branded products in roughly two dozen other retail outlets in the state.

NFL legend Joe Montana’s venture capital firm took part in a $75 million investment in Caliva earlier this year.

Contributing: Jay Cannon, USA TODAY

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