The football Hall-of-Famer invests in a California-based cannabis company
Joe Montana is looking to score a touchdown with his latest investment. The former quarterback for the 49ers, and NFL Hall of Fame inductee, has invested in Caliva, a California-based cannabis company that operates across several sectors of the marijuana industry. Montana is joined by Carol Bartz, the former CEO of Yahoo, who also invested in the company and has taken a seat on its board of directors.
Montana invested in the company through his Liquid 2 Ventures company, a venture capital firm he founded in 2015. The amount of his investment wasn’t revealed, but Caliva received a total of $75 million in funding. Montana states that, as an industry, cannabis “can provide relief to many people and can make a serious impact on opioid use or addiction.”
Caliva will use the money to help the business expand. It currently operates a farm, a retail store, a distribution center and a delivery service, and also distributes products under its own brand to dozens of retail stores in California.
Bartz only became a believer in cannabis about seven months ago, previously having been against it. After undergoing knee replacement surgery, a friend recommended cannabis cream for the pain, and she immediately saw the light. “People are discovering there are better ways to clamp down on pain than over drugging yourself,” she explains.
Montana isn’t the only high-profile athlete to back marijuana. The NBA’s Bill Walton, NFL quarterback Jim McMahon and professional wrestler Rob Van Dam have all endorsed marijuana use. Even Mike Tyson is in, launching a farm and a marijuana resort in California.