TAMPA, FLORIDA, UNITED STATES, May 16, 2019 /EINPresswire.com/ -- C. E. Hutton, LLC, a minority-focused business development and management firm located in Denver, CO recently partnered with Totum Advising Group, LLC, an LGBTQIA+ and woman-led cannabis consulting firm based in Tampa, FL. The companies have partnered in a joint effort to raise $20MM for Legacy Partners 5280; a cannabis focused venture capital fund. The goal is to direct raised capital into real estate, technology, and biotechnology, specifically focusing a portion of these funds toward the elevation of minority-owned businesses within the legal cannabis market.
“It is no secret that disadvantages exist for people of color who are trying to realize their business dreams and aspirations and the existing stigma and challenges to realize them can appear to be without end. The best way to attack those challenges is to build allies, business and community networks and seek supporters that provide access and insight,” said C. E. Hutton, President of C.E. Hutton, LLC.
United States drug policies have disproportionately affected minority communities who have seen high incarceration rates, in part, due to marijuana related crimes. What was once considered illegal and taboo has now broken into the mainstream, and it’s critical that an industry built on the backs of the marginalized population is able to tip the scales back in the other direction. The focus towards aiding minorities is a priority in entering what is expected to be a $50 billion dollar a year U.S. market. African-Americans make up approximately 5 percent of the legal industry’s total ownership, and minorities as a whole make up only 19 percent.
“It is clear by simply examining any cannabis executive team or investor forum in the industry that there is an inexcusable lack of diversity. Beyond the simple ask for diversity among women, people of color, and non-able-bodied individuals, is the need to hold out a hand or open a door for our most deeply impacted and marginalized communities who have borne the brunt of the failed War on Drugs,” said Heather Lawson-Bradfield, President and CEO of Totum Advising Group, LLC (TAG). TAG is dedicated to lowering the barriers of entry toward minority owned businesses in the legal cannabis space by utilizing their core skill-sets such as business development, marketing strategy, real estate, and capital raise services.
C. E. Hutton and Totum Advising Group will be officially launching their partnership at the Cannabis World Congress and Business Expo (CWCBE) taking place in New York City May 29 - June 1. This unveiling of collaboration is targeted toward finding the next wave of minority entrepreneurs ready to take on this industry, as well as meeting with investors interested in leveling the playing field in the burgeoning legal cannabis industry.
For media inquiries or investor relations please contact:
Totum Advising Group at 813-428-7526 or firstname.lastname@example.org
About Legacy Partners 5280 LP
Legacy Partners 5280 LP was founded by a diversified team of corporate professionals and investors seeking to make a significant socio-economic impact in the legalized marijuana industry, specifically as it relates to diversity and inclusion. For more information please visit legacypartners5280.com
About CE Hutton, LLC
C. E. Hutton, LLC, a minority-focused business development and management firm. Although not exclusive to Minorities, we are inclusive to all communities that understand and appreciate the true value that diversity brings to our global society. For more information please visit cehutton.com
About Totum Advising Group, LLC
Totum Advising Group, LLC, is an LGBTQIA+ woman-led cannabis consulting firm which specializes in business development and marketing growth strategies. Founded on the principles of integrity, diversity, and inclusion, TAG seeks to lower the barrier of entry for those without ready access to the resources required to succeed in the legal cannabis market. For more information please visit totumadvising.com
Legacy Partners 5280 to Raise $20MM to Be Deployed into Minority Owned Cannabis Related Companies
May 16, 2019 at 08:00 AM EDT