February 9, 2015
It was only a matter of time before prominent cannabis advocates started following Peter Thiel‘s lead and entered the investment side of the legal cannabis industry. Today it was reported by various sources that everybody’s favorite Long Beach rapper Snoop Dogg is raising $25 million to invest strictly in marijuana-centric startups.
Specifically, Snoop Dogg will be focusing on the tech side of the market, seeking companies that unite the legal cannabis market with dynamite, technological innovation. This won’t be the first time he has invested his time, energy, and money into the tech sector though; Snoop Dogg has already gotten on board to fund Reddit and Robinhood.
Snoop Dogg and marijuana have long been synonymous – like hotcakes and syrup. However, this time he won’t be focusing on the growth or cultivation of the flowers -it’s all about the tech side of things.
For all of us who support the waxing cannabis industry, it’s fantastic to see somebody like Snoop Dogg hop aboard the movement. Not only does he bring funding, but he also brings with him a level of notoriety via his personality.
He brings something potentially more valuable with him: visibility. If we can keep showing entrepreneurs, investors, and legislators that the legal cannabis market is ripe for the picking, the level of innovation we see will swiftly increase.
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