Snoop Dogg Makes Major Moves As Venture Firm Recently Closed Debut Fund With $45 Million
He has taken over the rap game. Now, it's time to dominate business.
Snoop Dogg cemented his place in rap as one of the most prolific hitmakers of the past two decades. Recently, the rapper has turned his focus to business as his venture firm, Casa Verde Capital, made waves closing its debut fund with $45 million.
The firm focuses on the ancillary cannabis industry, which includes agtech, health and wellness, financial services, technology, media, compliance and laboratory technology benefits of cannabis. Managing partner Karan Wadhera told TechCrunch that the firm has big plans to make major moves in the industry.
Wadhera is an alum of Goldman Sachs and Nomura Securities who joined the firm in 2016. As Western states like California and Colorado have taken steps to legalize marijuana for recreational use, the cannabis industry has ignited, and Snoop has taken advantage by becoming managing partner of the firm in 2015.
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The rapper is the face of the company, of course, and Wadhera says that he also manages the financial modeling and serves as a cultural icon that brings credibility.
"He’s among the most important cultural figures in this industry, which is incredibly important. His involvement lends a lot of credibility and excitement to our portfolio companies. He’s also there for input whenever we need it."
Casa Verde Capital has invested in major companies like LeafLink, a marketplace for retailers and brands. Wadhera compared LeafLink to Walmart. The platform allows vendors and dispensaries to connect, order and do business in a streamlined process.
Wadhera also said that Snoop is "hands-off on the investment process, but when it comes to certain companies, he’s very involved, including with Merry Jane, a lifestyle media site [focused around cannabis]. That’s content. That’s media. That’s Snoop’s bread and butter."