Contributed by Taylor Ardrey

Rapper and businessman, Shawn “JAY-Z” Carter, is investing his coin in a new business venture.

The billionaire is getting involved in the cannabis industry with a brand named Caliva. Caliva is a company based in San Jose, California that specializes in weed products. Mr. Carter will serve as the chief brand strategist.

“Anything I do, I want to do correctly and at the highest level,” Carter said in a statement on Tuesday. “With all the potential in the cannabis industry, Caliva’s expertise and ethos makes them the best partner for this endeavor.”

Caliva sells a variety of products including joints, edibles, topical lotions and the cannabis flower itself. The products are available online and sold in more than 250 dispensaries across California.

The legendary rapper is known for his philanthropy endeavors and this collaboration is no different. In addition to the products, outreach programs will be developed to help those who were affected by the War on Drugs.

“In this position, Mr. Carter will focus on and work to increase the economic participation of citizens returning from incarceration — many of who are not seeing the monetary benefits of legalization — through advocacy, job training and overall employee and workforce development,” company officials said in a statement.

In 2003, he launched The Shawn Carter Foundation that empowers youth for success through different initiatives including Professional Development, College Preparation and Community & Goodwill Programs.