EXCLUSIVE: Actress And Cannabis Industry Veteran Gloria Govan To Lead $100M Real Estate Lending Firm

Actress and cannabis industry veteran Gloria Govan, the force behind RLNTLSS Brands, celebrity cannabis brand management business representing clients such as Whoopi Goldberg, Gary Payton, Derek Fisher and Freeway Rick Ross, is joining Alta II, an avant-garde in cannabis real estate lending firm, as general partner, leading the $100 million fund spearheading innovation and DE&I initiatives, Benzinga has learned exclusively.

Drawn to the therapeutic benefits of cannabis following her mother's bout with breast cancer in 2005, Govan swiftly morphed from a curious observer to an industry trailblazer. Holding the keys to 13 vertically integrated licenses peppered across Southern California and fervently driving change to uplift the cannabis space, Govan's leadership prowess is undisputed. As she intertwines her journey with Alta II, her focus sharpens on amplifying financial avenues for minority-owned cannabis ventures, casting a spotlight on enterprises steered by women of color.

Narrating her impassioned journey, Gloria Govan said, “Cannabis has become more than a mere interest – it's my fervent passion. Having navigated the treacherous waters of the industry, I recognize the colossal barricades minorities and women confront. In my new mantle as a general partner, spotting and uplifting women and minority-owned enterprises isn't just a goal; it's a mission. Together with Alta II, we're on the brink of scripting a more varied and inclusive cannabis narrative.”

Slated for its grand curtain raiser in 1Q24, Alta II carries forward the legacy of Alta Real Estate Fund. This pioneering entity has fueled the cannabis industry since 2019. The envisaged $100 million fund, with Govan as its navigator, aims to usher in a new era. As cannabis legalization gains momentum across the U.S., there's a palpable clamor for production facilities and dispensaries. Yet, the federal-level legality cloud looms large, shutting doors to conventional financing conduits like banks. Herein lies Alta's distinctive edge: it's not just another lender, it's the lifeblood for numerous cannabis enterprises, ingeniously circumventing traditional roadblocks.

Alta’s forte lies in its dexterity in decoding the multifaceted challenges the industry grapples with. A staggering $75 million in investments and a cascade of groundbreaking transactions later, Alta stands tall, delivering stellar returns and propelling cannabis businesses across states.

The ethos of Alta is simple yet profound: empowering cannabis ventures to scale. Its dynamic financing models, encompassing sale-leasebacks and senior secured term loans, offer a lifeline to a sector that, for long, has remained in the shadows. In Alta's quest to shatter stereotypes and champion diversity, they forge alliances with visionaries sharing this ethos.

Highlighting Alta's unwavering dedication, Jade Green, general partner of both Alta and Alta II, said, “Alta's journey, from its inception, has been intertwined with the cannabis realm. Our next chapter, Alta II, reinforces our pledge of channelling growth capital to cannabis ventures through real estate. As a fund manager championing minority rights, Gloria's induction into our ranks resonates with our unyielding commitment to diversity, equality, and inclusivity in our practices.”

Gloria's Activism

In the realm of sports and showbiz, Gloria Govan is carving out a unique legacy. Recently, she presided over the debut Cannabis and Celebrity basketball match in Phoenix, Arizona, just ahead of an NBA contest. This occasion further promoted inclusivity and representation, both within the game and beyond, exemplifying Gloria's trailblazing essence.

Govan's path to prominence is genuinely motivational. It underscores that a woman of color can excel across diverse domains, creating ripples that will resonate with forthcoming generations. Her milestones light the way for those keen on transcending traditional boundaries and chasing expansive dreams.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Image: Instragram + Javier Hasse edit