According to Variety, CEO and founder of 300 Entertainment Kevin Liles will be investing in Burb, a cannabis lifestyle company located in Vancouver. It will a $4 million Series A funding round. That venture is being led by KarpReilly, a private equity group headquartered in Connecticut.
Liles feels the move between music and cannabis is a practical fit. At Def Jam, Liles has a portfolio that includes Jay-Z, an artist and prominent investor in cannabis, The Redman/Method Man 2001 film “How High” as well as their 2004 tee-vee show “Method and Red.”
The 300 Entertainment banner includes Young Thug, Megan Thee Stallion, and Ambar Lucid.
The venture into the Canadian cannabis industry is solely a private venture for Liles. He’s investing his own money into Burb. Acting as a silent partner, Liles will be mostly hands-off, letting the cannabis growers do their business without his direct participation.
Liles said the venture is the result of “like-minded companies that share a culture. What we bring to each other is more than just business., though I am a businessman. More importantly, I want to create a safe haven for those who love cannabis, for those artists who celebrate it. Our goal is to service the cannabis community, not necessarily draw attention to ourselves, combining the artistic, creative and business sides.”
Burb intends to take advantage of Liles’ cash infusion with a plan to expand its network of cannabis stores in British Columbia as well as support its upcoming private label of branded cannabis products. They want to spread their reach in Canada and get into U.S. sales, starting in Cali.
Burb CEO John Kay says his company has its first two proprietary flower genetics ready for release in Cali. The event takes place at a cannabis trade show at the Hall of Flowers in Santa Rosa.
Liles is also impressed with Burb’s social justice agenda and its advocacy for reforming weed criminalization and aid the unlawfully imprisoned for possession or “legacy” (pre-legalization) transactions.
Liles, who prefers cigars to blunts these days, feels this partnership opens up all-new horizons. “I’m not into smoking anything that would slow me down from the pace I work,” he says. “In this case, one and one equals 10.”
CEO Kaye praises Liles, saying the music executive’s way ofmoving “authentically” and jumping “on the latest trends” is a smart and influential.
“He’s built three separate companies in Def Jam, Warners and now 300 Entertainment, where his independence resonates deeply with us. His network is second to none, and as a person, he’s hella creative and one of the hardest-working guys I know, which is inspiring to me.”
Burb is on the move, exploring product and retail licensing across North America. While staying out the way, Liles ensures us he has no intention of having his new partner “just slap a brand or a logo on something.” He sees them as curators who are about more than the money.
“John and I trust in one another’s moral fabric.”
