Legendary country singer Willie Nelson has chosen New York-based equity firm Tuatara Capital as a new partner in his venture into the legal cannabis industry.
Nelson and Tuatara are planning on funding the growth and distribution of Willie’s Reserve, a new cannabis strain that will be sold initially only in Colorado and Washington State, and in other recreational markets as they emerge.
Tuatara will lead an investor group that will help finance the setup of the business, according to a press release.
Nelson announced earlier this year that he’s planning on founding a new string of rec shops that will carry Willie’s Reserve. In July, Nelson said he hopes to have the strain available as soon as this month.
The release had no update in terms of when the strain might be ready for sale.
Al Foreman, a partner at Tuatara, said in the release that his company sees Willie’s Reserve as “a vanguard in this exciting new industry.” Funds that Tuatara helps to raise will help finance the development of Nelson’s special strain.