Growing up in Los Angeles, I have always been a fan of Snoop Dogg. Growing up in Long Beach, Snoop Dogg has created timeless music for the West Coast, and has been an active member of the community as well. Coincidentally, I actually have experienced the charitable person that Snoop Dogg is, having played in his youth football league growing up in the city. Though he did not come up in the best situation, having an unstable presence of a father in his life, Snoop Dogg made the most out of what was given.
Growing up, Snoop Dogg, whose real name is Calvin Broadus, ran into the law frequently due to his affiliation with the Rolling 20’s Crip gang in East Long Beach, but I can assure you that he has never been just a “gangster”. Since dropping his debut album, Doggy Style, in 1993, Snoop Dogg has continued to alter his life. Now, the infamous Westcoast rapper has been at the pinnacle of the rap game, and has been active in finding new ways to make money off of what he enjoys: Marijuana.
Debuting in 1993, Snoop Dogg is considered one of the original rappers of the Gangster Rap era in the early 90’s. His status as an OG is not cemented solely by his tenure in the rap game at this point, as he is one of the most successful artists to be involved in the business of cannabis as well. Snoop Dogg’s company, named Leafs by Snoop, was launched in November of 2015, and since has gained considerable traction. Using capital that he had accumulated during his music career, the rapper was able to begin selling his own cannabis pens, strain, and other related products.
Though it is known that the artist has been very successful in his cannabis adventures, new developments in his charge have landed him on our blog. There is a great article by Sean Williams of The Motley Fool that speaks to just how much money the artist has been able gather for the cause. Williams points out a major figure that influences Snoop Dogg’s success, and it isn’t simply his status as a superstar. Williams states that,
“Cannabis research firm ArcView recently noted that legal pot sales in North America climbed 33% in 2017 to $9.7 billion, and they’re expected to grow annually by 28% through 2021, hitting $24.5 billion a year in the process. You’d probably struggle to find an industry with more consistent growth prospects.” – Sean Williams, The Motley Fool, 2018
One unique aspect about the cannabis industry is that it is not simply the direct growers that have been able to capitalize of the legalization of marijuana, but the ancillary players as well. Snop Dogg has been on the forefront of capitalizing on what he has always loved to do, and has co-founder a venture capital firm that focuses on investments in the cannabis space. Casa Verde Capital (translated to “green house”) is currently the leading venture capital firm focusing exclusively on the cannabis industry.
Before closing to new investors, Casa Verde Capital had raised $45 million. Its reason for closing to the public was sos it can look for large investments of more than $1 million or up only. The firm plans to follow up with closing that requirement, and making all investments $3 to $5 million instead. TO date the company has made 8 investments in total and plans to continue growing!