Snoop Dogg (a.k.a. Snoop Lion) is putting together a fund specifically to aid in weed startup companies. The agency is still in the process of raising funds so the final size remains to be determined, but according to the Inquisitir he is aiming on raising a total of $25 million for new businesses in the growing weed industry.
According to Ryan Lawler of Tech Crunch, Snoop’s investments will not be related to cannabis cultivation startups, but technology related weed businesses. In recent years Snoop had invested in popular web platform Reddit as well as Robinhood, a zero-commission stock trading app.
More than just a weed icon, Snoop is proving himself to be a smart investor. This new fund does not mark Snoop’s first investment into the legal cannabis industry. In the past he has partnered with Grenco Science, a vaporizer manufacturer, releasing his own branded series of Snoop Dogg portable vaporizer pens. Rapper Wiz Khalifa has also partnered with Greco Science, releasing his own line of vape pens.
Snoop’s name has become synonymous with weed culture so it only makes sense that he would start investing in weed businesses, after all he has plenty of experience with the product. We will have to look out in the future for what lucky businesses get to partner with the modern day weed icon.
Tags: business, fundraisers, green rush, investing, legalization, Snoop Dogg.
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