Businesswoman Lavetta Willis is partners with Webber on the venture.
Zoning approvals and permits were signed off last year, a Detroit spokesperson reportedly confirmed. 2021 to build a nine-acre cannabis facility in downtown Detroit, but the news outlet reported there is no indication the project is underway. Webber, Willis and Wild also announced their intention in Sept. The political action organization was reportedly in talks with Webber and Jason Wild, who is an investment officer at JW Asset Management. “I haven’t seen them do anything,” The Hood Incubator Executive Director Lanese Martin told the outlet. Part of the work cited by the DASNY for picking Webber, part of the Michigan “Fab Five,” and Willis is their partnership in the Webber Wild Impact Fund, a supposed $100 million fund announced back in February 2021 that would help cannabis entrepreneurs of color, but NY Cannabis Insider reported it could not find anyone that received money from that. A new report states that former NBA star Chris Webber is under-performing for the weed industry. Social Equity Impact Ventures - which includes Chris Webber and businesswoman Lavetta Willis - has come under scrutiny after being named by the Dormitory Authority of the State of New York (DASNY) last June to manage the massive public-private fund meant to bring equity to the state’s cannabis industry.īut while the state touted the company as a “premier minority-led investment team,” a report from NY Cannabis Insider states that the pair seemed to miss the state’s expected deadline of raising $150 million from private investors to go toward the public-private partnership that would then be given out to weed retail stores.Īmong other issues the investigative piece reported on included that Webber and Willis, who started a sneaker company in the 1990s, have failed to follow through on some of their boldest claims, like building a cannabis compound in Detroit and pumping $100 million into a fund aimed at entrepreneurs of color.Īdditionally, the two have displayed past financial mismanagement, the outlet reported. Weed them out! Hochul launches raids of Manhattan’s illegal pot shopsĪ former NBA star and shoe entrepreneur selected to help raise New York’s $200 million fund connected to its emerging legal weed have failed to rake in the cash, according to a new report.
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