Snoop Dogg’s Casa Verde Company Raises $100M in Funding Round

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Casa Verde Capital LLC, a company co-founded by Snoop Dogg has rounded up its funding round with about $100 million, a double of its previous funds raised. Casa Verde exclusively focuses on the Cannabis industry with a lot of hope that Cannabis will soon become the most compelling area of investment in their generation.

Cannabis investment has over the years grown exponentially. Karan Wadhera, the fund’s manager in an interview disclosed that the cannabis industry has proven beyond a reasonable doubt that it is a noncyclical industry. According to him, they recorded a massive sale in March, April, and May despite the COVID-19 negatively affecting companies worldwide.

Things have not been all roses for the cannabis industry. Speaking about the previous bust, Wadhera explained that what happened to the Cannabis industry was caused by people’s perception not far different from that of the “dot com” in the late 90s.

According to him, there were a lot of hypes engineered by public companies, speculative trading, and valuation with others creating a false reality and projecting something that was far from the future.

“Things just got frothy, and that eventually burst, and last April or May was sort of the apex of that moment. It’s when things started to trade-off. And it’s been those names, the public names in particular, that have been hit particularly hard, ” he said.

ArcView, a Cannabis research center noted some years back that the legal pot sales had risen in North America forcing them to project a 28% annual growth through 2021. So many things have changed in the industry with a lot of perceptions changed. Gone are the days when many people did not want to have anything to do with it. However, things have changed. A survey conducted revealed that a lot of Americans pushed for its legalization.

Since 2018, the Cannabis industry has undergone several boom and bust cycles. However, Casa Verde has managed to raise a lot through different mechanisms including fundraising coupled with a flagship fund. Despite the inconsistent performance, it has been predicted that the cannabis market and the Cannabinoid derivatives will possibly hit $34 billion.

Wadhera stated that the use of Cannabis will go beyond how people think stigmatically about it. Casa Verde has made several investments taking advantage of opened opportunities with their focus centered on retails, brand, supply chain logistics, and investments spanning delivery.

Wadhera said in the statement that the Biden administration will have a more positive environment for the growth of the Cannabis industry, unlike the Trump administration.

“He (Biden) certainly is in favor of full-scale decriminalization, [meaning] letting states have full authority over what happens with their businesses, and also the rescheduling of cannabis down from the current Schedule 1 level,” he said.

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.