Joe Montana, the former Hall of Fame quarterback for the San Francisco 49ers, is betting on the newest California gold rush: cannabis.
Montana, who founded a venture fund in 2015, took part in a $75 million fundraising round for Caliva, one of the top-selling brands of marijuana products in California's legal market. Former Yahoo! Inc. Chief Executive Officer Carol Bartz also put money into the company and is joining its board of directors, Caliva said in a statement Thursday.
Caliva operates a cultivation facility and retail store in San Jose, and has its own delivery service in the Bay Area. It also sells branded weed, joints and vape pens at more than 200 dispensaries through the state, the largest legal weed market in the world.