Calvin Broadus, Jr., better known as Snoop Dogg, is looking to raise $25 million to fund startups in the blooming marijuana industry.
Tech Crunch reports his agency is still in the process of raising the fund, so its ultimate size is uncertain.
This is by no means Snoop Lion’s first foray into the legal marijuana industry, as he previously partnered with vaporizer manufacturer Grenco Science and released a series of Snoop Dogg branded portable vaporizer pens, one of which features a map of Long Beach, California, the rapper’s proclaimed stomping grounds. Snoop’s not the only rapper to partner with the vaporizer company, as Wiz Khalifa has also partnered with G Science and released his own line of vape pens. Grenco first became renown for its G Pen vaporizer, but has since released collaborations with artists, including the Snoop Dogg microG and the Taylor Gang G Slim.
The 43-year-old Bigg Snoop, who has sold over 30 million albums worldwide, was born Cordozar Broadus, Jr. on October 20, 1971 in Long Beach, California.
Snoop’s debut album, Doggystyle, was released in 1993 under Death Row Records.
For Snoop, investing in the legal cannabis industry seems to make a lot of sense because, as Tech Crunch’s Ryan Lawler put it, “Snoop probably knows more about weed than anyone.”
Lawler’s report indicated that it was their understanding that the fund’s bets will not have anything to do with the cultivation of pot or its production, and instead will focus on technology affiliated with the legal marijuana industry.
Tech Crunch reported venture money was flowing into marijuana startups as states have begun legalizing cannabis for both medical as well as recreational use.
In other marijuana news on the Inquisitr, the NFL’s Letroy Guion was arrested by authorities after law enforcement discovered $190,000 in cash, 357 grams of pot, and a gun.
Legislators in Colorado are working on a bill which would prevent the use of EBT cards at cannabis dispensaries.
There’s a new social networking app for stoners called High There!, Inquisitr reported previously.
What are your thoughts on Snoop Dogg’s $25 million goal? Do you think he’ll reach it or exceed it? If he does achieve his fund’s multimillion dollar goal, do you think the fund’s focus on marijuana technology will prove to be a successful investment strategy?
[Image via Wikipedia]