SAN JOSE (CBS13) – “Joe Cool” is getting into California’s marijuana industry.
Legendary former 49ers quarterback Joe Montana is among the initial investors in the San Jose-based cannabis company Caliva.READ MORE: Controversial New Report Says No Amount Of Alcohol Is Good For The Heart
Already one of the biggest cannabis companies in the Bay Area, Caliva said Thursday they raised $75 million in their first round of seeking funding.
“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,” Montana said in a statement put out by Caliva.READ MORE: Study: States With Weaker Gun Laws Have Higher Rates Of Firearm Related Homicides, Suicides
The company also snagged former Yahoo and Autodesk CEO Carol Bartz, who will now serve on Caliva’s board of directors.
Since retiring from the NFL, the 62-year-old Montana has become a known “angel investor.”
Montana’s venture capital firm Liquid 2 Ventures has reportedly provided seed fund investments in more than 90 companies.MORE NEWS: Oregon Man Arrested By Authorities After Chase Starting In Placer County
California’s legal marijuana market saw a mixed bag of successes and failures in its first year, experts said.