It is widely known that Snoop Dogg has always been one of the biggest supporters of the burning bush. Now the "Drop It Like It's Hot" rapper is putting his money where his mouth is and investing in the future of the product. The Los Angeles rapper is funneling his money through his venture capital firm, Casa Verde Capital, to invest in a San Francisco-based weed deliver company Eaze, which is being dubbed as the "Uber of weed." It connects medical marijuana patients with dispensaries to get deliveries quickly and efficiently.
The interest for Snoop could be self-serving as someone whose interest in marijuana would make a product like this advantageous on a personal level. Casa Verde Capital was not alone in the $10 million Series A funding. Silicon Valley-based VC firm DCM Ventures led the round.
"It signals that technology services can be successful [in] service [of] the cannabis category," said Eaze CEO and founder Keith McCarty via Forbes. "It also signals that regulatory landscapes are loosening up, and venture capitalists see the broader market continuing in that direction."
Snoop Dogg's Casa Verde Capital has been active in the past few months investing in companies like Reddit and Robinhood, the zero-fee online trading platform. He is also looking to be a leading investor into the growing cannabis industry that has been struggling to attract capital because of the uncertain regulatory climate.
PayPal founder Peter Thiel helped raise $75 million in a round of funding for Privateer Holdings, a holding company for marijuana-related business, according to Tech Crunch.
As an expert on the matter, Snoop Dogg knows the product and knows it well. This will probably come in handy as Snoop continues to push out his new album Bush.
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