By Nick Reisman, Spectrum Local News on July 1, 2023
A Chicago-based investment group is providing $150 million in capital to the state’s Cannabis Social Equity Investment Fund as New York seeks to boost what has been a slow to expand marketplace.
Gov. Kathy Hochul’s office on Friday announced Chicago Atlantic Admin, LLC will invest $150 million, part of the state’s $200 million goal for combined investments.
The fund, created as part of the state’s cannabis marketplace law, is meant to provide support for people with adult-use cannabis licenses to receive turnkey dispensaries in order to start their businesses.
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