"Major Investments Pour into New York's Cannabis Social Equity Fund, Reaching $200 Million"
Governor Kathy Hochul of New York has announced that Chicago Atlantic Admin, LLC will invest up to $150 million in the New York State Cannabis Social Equity Investment Fund, bringing the total investment in the fund to $200 million. The fund aims to support individuals affected by the unequal enforcement of cannabis prohibition by providing turnkey dispensaries to justice-impacted individuals who have received Conditional Adult Use Cannabis Dispensary licenses. The investment will help these licensees start their businesses and repay set-up costs associated with the fund program. Chicago Atlantic, with its extensive experience in the cannabis industry, will contribute to the development of New York's cannabis industry and support social equity initiatives.