WASHINGTON (SBG) — Business for Jay-Z grows as the music mogul makes his way into the cannabis industry with a huge multi-million dollar investment in Flowhub.

In a joint venture with Headline and Poseidon Asset Management, Jay-Z is investing $19 million in Flowhub, a Denver-based cannabis point-of-sale software company.

Founded by Kyle Sherman in 2015 and now valued at $200 million, Flowhub helps marijuana dispensaries process transactions, track inventory, and comply with state cannabis laws.

When Jay says, ‘I’m not a businessman, I’m a business, man,’ it’s true,” Sherman, referencing one of Jay-Z’s most-cited lyrics, told Forbes. “He's got incredible business acumen, he really knows how to surround himself with brilliant people and build great companies.

Poseidon's co-founder and managing partner Emily Paxhia also expressed her excitement for Flowhub going forward.

“Flowhub is the Square of the cannabis space,” Paxhia told Forbes. “There are going to be a couple of tech companies that will be the leaders of our space, and Flowhub will be one of them.”

Jay-Z's investment in Flowhub isn't the first dive into the cannabis industry. In 2019, the music legend became the chief brand strategist for California-based cannabis company Caliva. Through Caliva, Jay-Z created his own high-end luxury cannabis brand, Monogram.