The Hip-Hop generation is known for it’s hustle – there’s no denying that. Last year Nas made headlines when it was realized the legendary emcee was also a venture capitalist, making bank in the world of tech. Is it any surprise then, that Snoop Dogg, another legendary emcee, also has a venture capital fund?
Casa Verde Captial – Snoop’s fund – just raised $45 million from investors to be used to invest in early-stage startups focused on the cannabis industry. The Doggfather rapper has already committed to eight different investments.
According to Digital Music News:
In a recent chat with TechCrunch, [managing partner] Wadhera spoke about some of the companies that Casa Verde is eyeing. “We’re writing seed-stage to Series A-size checks, so $1 million plus, with roughly half our fund reserved for follow-on investments, where we can write another $3 million to $5 million [to a limited number of breakout companies],” Wadhera noted.
It should also be noted that the same managing partner quoted above also said the company will only work in ancillary markets – not investing in companies that actually deal with the plants.
It’s always been a hustler’s mentality to think when there’s a gold rush, sell shovels.