Hip-hop legend and key marijuana icon Snoop Dogg plans to raise up to $25 million to fund up-and-coming cannabis industry startups, according to a recent report from TechCrunch. .
Logically, the cannabis industry is a perfect fit. Snoop (aka Snoop Lion, real name Calvin Broadus Jr.) is well known as a marijuana enthusiast, and you can expect him to know a lot about the marijuana industry from first-hand experience.
In fact, Snoop is no stranger to investing in emerging industries. In 2014, the celebrity joined top Silicon Valley investors to invest $50 million in popular social sharing hub Reddit.com. Earlier in the year, Snoop also invested in Robinhood, a zero-commission stock trading app that helps attract younger generations to small-cap stock market trading.
Meanwhile, big-time investor Peter Thiel (who happens to be affiliated with Snoop on the Reddit.com investment fund) also recently announced a major marijuana investment. Mr. Thiel's $1 billion Founders Fund will partner with Privateer Holdings to reach its stated $75 million goal, the companies said in a statement signed in January.
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graham abbott
Based in Portland, Oregon, Graham is the editor-in-chief of Ganjapreneur. He has been writing about the state of legalization since 2012 and has contributed to Ganjapreneur since its official launch in 2014.
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