Cannabis startup Caliva raises $75M from former Yahoo CEO Carol Bartz and Joe Montana
San Jose cannabis company Caliva is proving that weed’s still hot, even as some markets cool off.
The company is announcing a $75 million round of investment that includes participation from former Yahoo CEO Carol Bartz and football legend Joe Montana . If that pair seems unlikely, it just goes to show that cannabis attracts an eclectic mix.
With what the company itself refers to as a “war chest,” Caliva intends to expand its portfolio of products as well as ramping up its efforts courting cannabis users in California through a combination of branded brick and mortar stores, direct to consumer sales and sales to distributors. While state regulations slowed the overall market over the last year, Caliva grew its revenues by 350 percent, growing its company to 440 workers
A general partner at Liquid 2 Ventures, Montana isn’t new to cannabis investing. In 2017, the former quarterback participated in a seed round for Herb, a cannabis-focused media company. Given the extreme toll pro sports take on the human body, it’s not uncommon for former athletes to get involved in the cannabis business, particularly with CBD products.