Snoop Dogg has locked down $45 million to invest into cannabis startups.
Back in 2015, the legendary rapper and weed connoisseur co-founded an ancillary cannabis industry venture firm to invest in the business. However, Snoop’s Casa Verde Capital is not investing in the dispensaries or the actual weed growing process, but into the picks and shovels used for the process, the Grio reports.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Now, with the new $45 million fund, which is reportedly the largest in the industry, Snoop is reportedly ready to invest no less than $1 million in each company.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
“Our biggest investment to date is LeafLink, a marketplace for retailers and brands,” his managing partner Karan Wadhera said. “If you were Walmart and logging onto a platform to order from vendors, that’s what LeafLink has created for the cannabis space. A dispensary can log in and order from vendors on one consolidated platform.”
⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
As for Snoop’s involvement though, Wadhera says the rapper is all about their lifestyle media website.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
“That’s content. That’s media. That’s Snoop’s bread and butter,” Wadhera said. “He mainly handles the financial modeling. He’s among the most important cultural figures in this industry, which is incredibly important. His involvement lends a lot of credibility and excitement to our portfolio companies. He’s also there for input whenever we need it.”
