Calvin Broadus, Jr., otherwise known as “Snoop Dogg,” announced that he plans to raise and then invest $25 million for startups in the booming cannabis industry. Snoop previously has invested in companies such as web giant Reddit and the stock-trading service Robinhood.
Tech Crunch reported that Snoop’s investment will not be directly dealing with the cultivation and selling of cannabis, it will include startup ventures and industry technology. We think Snoop’s not just “blowing smoke” about his plans, he is known for his expertise in this field thus, giving him the hands on knowledge for successfully investing in this market. There are few people more knowledgeable on the subject of cannabis.
It is encouraging to see leaders from a wide range of industries enter the this booming market by investing and working together to shift negative perspectives into financial boons and cultural norms.
Now that cannabis has received its public spotlight, people are lining up to invest and fund businesses in this industry, thus giving it the chance it deserves in our society. Snoop’s investment is another stepping stone that is helping cannabis and cannabis companies gain the exposure and stability they need. One thing for certain is that Snoop Dogg will certainly put his expertise on the subject to good use.