Rapper and cannabis lover Snoop Dogg remained on brand by co-founding the venture firm Casa Verde Captial (CVC). The firm will invest in ancillary cannabis companies and has closed its inaugural fund after acquiring $45 million from investors, reports TechCrunch.
According to their website, CVC explains the ancillary ecosystem as “not touching the plant.” The firm will thus invest in categories such as “agtech, health & wellness, financial services, technology, media, compliance and laboratory technology.”
The firm has already invested in eight companies that support the picks and shovels specially manufactured for cultivating marijuana.
The company’s most substantial investment to date is LeafLink, a marketplace for retailers and brands says managing partner Karan Wadhera.
Wadhera also revealed that most of the $45 million fund was raised last year. It is also one of the largest funds in the cannabis industry to date.
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Christina Santi is a news and culture writer for EBONY.com. Born and raised in the Bronx, New York, she considers herself a well-read, not so traditional feminist with a heavy interest in music, fashion and pop culture. Christina currently lives in New York City, where she refers to her Cuban & Jamaican descent often while writing about her experiences as a first-generation Afro-Latinx in America. She also devotes time writing personalized reading material for her tutees and turning ideas into words for streetwear brand, PUER By Noel Bronson.