Snoop Dogg invests Millions in a Berlin-based Cannabis Start-Up
Just as the cannabis-legalization is in hands reach in Germany, Snoop Dogg makes moves in Berlin. The Rap-artist and weed-enthusiast has invested millions in the Berlin-based start-up Sanity Group.
Through Casa Verde Capital, the biggest cannabis-focused investors of the US, the rapper has provided around 3.5 million dollars to Startup Sanity Group.
A million dollar business
Snoop Dogg’s investment happened during the series-a-financing round. This raises Sanity Group’s total capital to approximately 77 million Dollars. With the new capital, Sanity Group, founded in 2018, aims to advance medical cannabis research and expand its consumer health- and well-being-business.
“We’re very happy to profit from Casa Verde’s expertise and experience” explained Sanity Group-founder Fabian Friede. Finn Hänsel, co-founder, added that the support by Casa Verde isn’t only a success but also an important sign for the European market.
With an A-lister like Snoop Dogg in their midst, Sanity Group is expanding its roster of famous investors. Other investors include producer and rapper Will.I.Am, German TV-personality Klaas Heufer-Umlauf or football-star Mario Götze. In addition to that, various VCs like HV Capital, Calyx, SevenVentures and Bitburger Ventures are part of the company.
For Casa Verde, it’s the first investment in Germany. Co-founded in 2015 by Snoop Dogg, it currently holds shares in 20 cannabis companies all over the world. Last month, October 2021, they invested in the portuguese start-up Acecann.
With Casa Verde, Snoop Dogg made his hobby into a business. The weed-enthusiast is known to smoke a lot. He once publicly stated to smoke a whopping 81 blunts a day. Whether that statement is actually a fact, can of course be debated. What’s clear is his love for the green.
What does Snoop do, when he’s not smoking? The rapper recently joined G-Star RAW for their “Say It With Ya Booty”-campaign and is also a member of the WWE Wrestling Hall of Fame.