Calvin Broadus Jr. more commonly known as Snoop Dogg and recently Snoop Lion has started a venture-capital fund with the purpose of investing in cannabis-industry startups.
On Friday June 12, Casa Verde Capital filed with the Securities and Exchange Commission and Snoop was listed as a managing member.The organization will is reportedly seeking $25 million from investors and will focus on tech used within the evolving systems of the cannabis industry. This sounds like a pretty great idea when you think about how many new products have entered the cannabis-world within recent years, and how many are sure to come given the state of flux the industry is in.
Snoop obviously brings instant brand-recognition to anything he touches, especially when that thing is related to cannabis. But Snoop also brings previous experience to the table, as he is reportedly invested in a stock-trading enterprise called Robinhood, and “the homepage of the internet” Reddit.
In case you were wondering, venture-capital funds are high-risk, high-return, managed investment funds where private investors buy equity in small or starting businesses.