“I’m truly honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company. This is a tremendously strong company that is poised for continued growth and we have a unique opportunity to disrupt a sector that has disproportionately impacted communities of color — including my own — for far too long,” Datcher told The Associated Press in a statement. “This is a chance to partner with cultural powerhouses like Jay-Z and Desiree Perez to rectify the wrongs of prohibition, eradicate antiquated laws and create a new cannabis infrastructure rooted in diversity, equity and justice for our communities. Together, we can shape a legal cannabis industry that is reflective of our entire culture in California and beyond.”
In January, Hov joined his Roc Nation company with CMG Partners Inc., Left Coast Ventures Inc. and Subversive Capital Acquisition Corp. to form the business consortium. The umbrella of companies is known as TPCO Holding Corp, or The Parent Company, has been called the largest cannabis special purchase acquisition company (SPAC) deal ever and Jay-Z serves as chief visionary officer of The Parent Company. The Roc Nation boss leads brand strategy as well as the company’s social equity ventures and started a corporate venture fund that will invest in Black- and minority-owned cannabis businesses.
