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Snoop Dogg

2 minute read

July 1st 2018 Canada will legalize marijuana, and rapper Snoop Dogg wants to be a part of it. His venture capital firm is investing in the cannabis inventory management software provider, Trellis. The Toronto-based company develops software which help cannabis-specific businesses with seed-to-sale tracking.

Snoop Dogg is known for being a weed-lover, so it is not surprising than his investment company Casa Verde Capital invests in firms that support the cannabis industry. However, he only invests in ancillary or “No Touch” companies, which only provide a product or service to the cannabis industry, but don’t directly touch the plant or any form of THC, the active ingredient in marijuana. “No Touch” companies, like Trellis, usually help the “plant-touching” businesses and the dispensaries with services like packaging, marketing, or financial and legal advice.

Trellis has even bigger plans than just selling its products in Canada. The company already has customers in California and next they could set up shop in any of the other states that have legalized marijuana for recreational and medicinal use.

Snoop Dogg’s $2-million seed round investment “elevates the discussion and helps to boost our brand visibility” said Pranav Sood, the CEO of Trellis. Not only Casa Verde Capital wanted to have a piece of the fast growing Canadian cannabis industry. Argonautic Ventures, One Gun and Gateway (a California-based incubator focusing on cannabis startups) also contributed funding.

Furthermore, it was announced that three varieties of the rapper’s own brand of marijuana – Leafs By Snoop – will be available in Canada. However, only those who register with the Canadian producer will be able to buy the rapper’s exclusive strain: Sunset, Ocean View or Palm Tree CBD.

It was not the only big investment that Casa Verde Capital made at the end of 2017. It led a $1 million seed round investment in Cannalysis, a cannabis lab working with medical and recreational marijuana. Cannalysis’ main profile is testing the potency and chemical residue of cannabis products but they also have a webpage that is integrated with the online dispensary locator, WeedMaps.

In conclusion, 2018 will be an exciting year for the cannabis industry, as California’s recreational cannabis market has been open since January 1st and Canada’s will open soon, too. More than ever, Snoop will be hoping that people follow his advice in his famous song The Next Episode, and “Smoke weed everyday”. There are not a lot more lyrics we can get away with printing from that song, so let’s just end with La-da-da-da-dahhh….

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