Snoop Dogg’s cannabis firm has raked in $45 million for the weed industry
Investments are being funneled into the cannabis industry from all corners, and if there’s one weed aficionado who deserves a special mention, it has to be Snoop Dogg.
Also known by his real name, Calvin Cordozar Broadus, Jr., Snoop recently announced he will be providing $45 million capital for the ancillary cannabis industry. This is one of the biggest industry investments ever to be made.
The investment venture has been made possible thanks to the musician’s company, Casa Verde Capital (CVC), securing the funding.
About Casa Verde Capital (CVC)
CVC was co-founded by Snoop in 2015 with a vision to help the cannabis industry become the “most compelling investment themes of our generation.”
Snoop Dogg’s cannabis firm managed to raise the majority of the money just last year, making this victory one of Snoop’s most momentous.
Rather than investing in cannabis cultivation companies and dispensaries, CVC will use the $45 million debut fund to support cannabis companies that are involved in the ancillary ecosystem, or to put it simply, cannabis companies that are “not touching the plant.”
Examples of the categories associated with the “ancillary cannabis industry” include:
- Technology
- Laboratory technology
- Health & wellness
- Financial services
- Media
- Compliance
No less than $1 million will be invested in each company.
Snoop Dogg’s cannabis firm has invested in multiple companies
Snoop has never lied about the fact that he likes to smoke the green stuff.
In fact, the 46-year-old American rapper, songwriter and record producer has even admitted to smoking the herb inside a bathroom at the White House!
Included in CVC’s portfolio is online cannabis resource MerryJane.com, cannabis delivery service Eaze, cannabis POS software Greenbits and online commerce platform Leaflink.
“We’re more interested in companies that are building functions for the long term because those short-term solutions won’t be relevant once we’re in a federally legal environment,” said CVC’s managing director, Karan Wadhera.
Snoop Dogg’s branded cannabis line
A medical and recreational cannabis advocate, Snoop Dogg knows what it takes to succeed in the industry.
In addition to co-founding CVC, he has also introduced a weed line called Leafs by Snoop.
“Wherever my musical journey has taken me around the world, it’s beautiful to see how chronic leafs are a common source of peace, love and soul that connects us all,” Snoop states on his website, where shoppers can peruse medical-grade goods featured in the Product Suite.
Cherry-flavored “Dogg treats” are included in Snoop’s selection of weed-inspired products, as well as wax, shatter, bud and CBD-infused chocolate bars.
