La La Anthony got her start as a host on MTV’s Total Request Live, and over the course of the past two decades, she has built a career as a television personality, actress, producer, and businesswoman.
Anthony, 39, is one of the celebrity investors in Leune, a cannabis company that announced a $5 million seed round last April. Leune shares the stories behind the products it sells as a way to move the conversation beyond simply getting high. The company, which was founded by Nidhi Lucky Handa, also seeks to give back to social justice causes.
For example, the company’s net proceeds from Piña DayDream, an all-in-one vaporizer launched last January, go toward Last Prisoner Project, a cannabis-reform nonprofit dedicated to helping people who are still incarcerated for nonviolent, cannabis-related crimes.
Leune currently operates in more than 130 dispensaries in California, and 19 delivery platforms, with an ambition to continue to grow as cannabis becomes legalized in more states.
- Name of startup: Leune
- Year founded: 2018
- Valuation: Confidential
- Investment level: Seed, $5 million
- Number of employees: 10 employees
- Location: Los Angeles
- Other major investors: Carmelo Anthony; Houston Rockets star John Wall; sports agent Rich Paul
Why she invested
Anthony tells Fortune she wanted to invest in a cannabis company but never found the right fit until she learned about Leune. For her, Leune’s “aesthetic” and mission make it stand out from other competitors.
“Being in this specific industry brings with it a large platform and serious responsibility, and we are very excited to use our collective Leune voice to help bring awareness to social injustice and inspire true, positive change,” Anthony says.
She adds that she was also thrilled to support a company founded and led by “an extraordinary woman of color.”
“Leune and Nidhi clearly see the growth potential of the cannabis industry,” she says. “I’m so happy to join them on their journey.”
This is an installment of Why I Invested, a series featuring famous investors from all different backgrounds and industries, revealing what inspired them to invest their own money in a new business.