SAN FRANCISCO (AP) — San Francisco 49er legend Joe Montana is looking to hit pay dirt in the legal marijuana industry.
San Jose-based Caliva announced Thursday that the Hall of Fame quarterback’s venture capital firm was taking part in a $75 million investment in the company. It didn’t disclose Montana’s portion of the investment.
Caliva operates a farm and two retail stores in Northern California and distributes its branded products in roughly two dozen other retail outlets in the state.
The 62-year-old said in a statement that he was investing in marijuana in part to combat opioid addiction. Some doctors recommend marijuana to treat opioid addiction.
Former Yahoo! Inc. chief executive officer Carol Bartz also took part in the investment and will join the company’s board of directors.