US rapper and entrepreneur Jay-Z has been named “chief visionary officer” of a major new cannabis company.

Cannabis is legal in several US states, including California, where it is now big business.

Jay-Z will guide TPCO’s brand strategy and enlist other “leading artists and entertainers” to promote the business.

He will also lead its investments in black and minority-owned cannabis firms and its initiatives to “rectify the wrongs” done when the drug was illegal.

The company said that would include “working toward meaningful change in the criminal justice system” and helping people convicted of cannabis-related offences with training and job placements.

TPCO also boasts Jay-Z’s Roc Nation labelmates Rihanna and Meek Mill as shareholders. It said Jay-Z would be “leveraging unparalleled cultural influence” to get other stars on board.

The move comes a month after the rapper launched a new brand of weed called Monogram.