Gloria Govan’s trailblazing work within the cannabis industry has just garnered her a General Partner position with a leading real estate lender.
Last month, Govan announced her appointment as General Partner of Alta II, a dominant real estate lender within the cannabis sector that provides capital to regulated cannabis companies throughout the United States. Between Govan’s decade-plus of experience leading her cannabis agency RLNTLSS Brands and her commitment to DEI and innovation within the cannabis industry, partnering with the real estate lender was a natural fit.
“Our company’s mission statement and the fund’s thesis align perfectly, and I’m beyond excited to lead the charge in making a tangible difference,” Govan told BLACK ENTERPRISE.
As General Partner at Alta II, Govan is focused on increasing access to financing for minority-owned cannabis businesses, particularly for companies owned by women of color. She called the new venture a “groundbreaking” one that will work to add more “diverse representation” to the cannabis industry.
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“I am absolutely thrilled to be the CEO and co-founder of a cannabis company that’s laser-focused on driving diversity, social equity, and inclusion within the cannabis and wellness arena,” Govan said.
“As a woman of color, I recognize the historic significance of this announcement and the opportunity it presents to bridge the gap and stimulate diverse representation in an industry that has faced historic scarcity and deficiencies in private and venture capital funding, particularly for women.”
Best known for her years on the hit reality show, Basketball Wives, Govan’s interest in cannabis was sparked by her mother’s breast cancer diagnosis in 2005. Since launching RLNTLSS Brands in 2013, Govan has become a sought-after pioneer within the cannabis industry.
Through her company, the former reality star serves as a partner in celebrity cannabis brands, retail collaborations, and business development within and beyond the cannabis industry. Some of her A-list celebrity brands and clients include Whoopi Goldberg, Gary Payton, Freeway Rick Ross, and her husband Derek Fisher.
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Owning 13 vertically integrated licenses throughout Southern California, combined with her passion for modernizing and elevating the cannabis space for brands, vendors, and consumers, Govan has earned a reputation as a dynamic and forward-thinking leader in the industry.
Now, in her role as a General Partner in a $100 million fund with the Alta Financial group, Govan will join in Alta II’s work in fostering financial structure and support in the cannabis industry through real estate.
“Cannabis is my passion and as a long-time entrepreneur working in the business, I know how challenging the barriers to entry can be for minorities and women,” Govan said.
“Identifying women and minority-owned businesses will be a goal for me as general partner, and together with Alta II, I hope to pave the way for a more diverse and inclusive future in cannabis.”
This content was originally published here.