Rapper Snoop Dogg’s marijuana-related venture firm raises $45 million

The venture capital firm founded by rapper Snoop Dogg to invest in ancillary cannabis companies has closed its inaugural fund after securing $45 million from investors, making it one of the larger raises in the marijuana industry.

Casa Verde Capital, based in West Hollywood, California, raised most of the money last year, according to TechCrunch.com.

The firm has invested in eight companies so far, and plans to announce more investments in the coming weeks, said Karan Wadhera, the firm’s managing director, in an interview with TechCrunch.com.

The money was raised from individuals and family offices. While institutional investors were “poking around” the fund, none ultimately chipped in, Wadhera said.

Companies that Casa Verde invested in include cannabis-focused tech companies Leaflink and Green Bits, delivery service Eaze, and Merry Jane, a marijuana-minded online media company that Snoop helped co-found in 2015.

“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,” Wadhera told TechCrunch.com.

2 comments on “Rapper Snoop Dogg’s marijuana-related venture firm raises $45 million
  1. alan morris on

    The Nixon Drug War is a COMPLETE failure. FAILURE Get it He did the drug war so he could get young Americans to kill in Vietnam. Smoking Pot will not allow anyone to kill anyone.
    All people in federal jails(over 80% of prisoners) that are in there behind this nonsense should be let out and their records expunged. BAM!
    Then, restore voting rights.
    Nancy Reagan said”Just say No”. That was like telling Ronald Reagan” JUST REMEMBER” and his Alzheimer’s would just—poof— magically be cured. Have the GOP meet us @ Starbucks. We will wait outside of course, until McConnell gets there. Then we will be good to go.

    Reply

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