NFL Star Joe Montana and Former Yahoo! CEO Invest in NorCal Canna-Brand
What happens when an NFL superhero and a former CEO of a major web service provider invest in a canna company?
NFL Hall of Famer Joe Montana and former Yahoo! CEO Carol Bartz have invested in Northern California cannabis brand Caliva. The company announced in a press release on Thursday that it had closed its first round of funding after raising $75 million.
Montana, a Super Bowl MVP three times over, founded the venture capital fund Liquid 2 Ventures in 2015. In 2017, the fund was part of a group that invested $4.1 in cannabis technology company Herb. Montana said that he believes that Caliva can provide meaningful benefits while delivering profits.
“As an investor and supporter, it is my opinion that Caliva’s strong management team will successfully develop and bring to market quality health and wellness products that can provide relief to many people and can make a serious impact on opioid use or addiction,”said Montana.
Caliva employs more than 400 people and operates a cannabis cultivation facility and dispensary in San Jose, a distribution center in Brisbane, and a service that delivers marijuana throughout the Bay Area. The company also has its own brand of cannabis flower, pre-rolled joints, and vape pens that are sold in dispensaries throughout California. Its offerings rank among the top ten best selling products in California, according to Headset, a cannabis data analytics platform.
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