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Snoop Dogg's Investment In Cannabis Startup Dutchie Doubles Its Value To $3.75B

Snoop Dogg has built a history of being instrumental in the cannabis industry, and his latest investment helped in doubling the value of a cannabis startup. Bloomberg reports that Snoop’s venture capital (VC) firm, Casa Verde Capital participated in a Series D funding round of $350 million for Dutchie — a technology platform for cannabis dispensaries. The tech firm’s valuation is now $3.75 billion. The round was led by D1 Capital Partners and other participants included Tiger Global, DFJ Growth, Dragoneer, Gron Ventures and Thrive Capital, according to Bloomberg. The new funding comes in seven months after Dutchie raised $200 million, which brought their value to $1.7 billion. Now the tech platform’s value has doubled in less than a year. As previously reported by AfroTech, Casa Verde Capital has served as a leading VC firm in providing cannabis startups with funding. The VC firm has an extensive portfolio, and Dutchie is one of its prized investments. Its backed Dutchie since 2018...

Ngozi Nwanji

Oct 15, 2021

Meet the First Black Woman to Own a CBD Company in Georgia

The cannabis industry has proven to be a more profitable business as more and more states institute legislation to legalize recreational and medical cannabis use. Additionally, the lingering effects of the War On Drugs-era and racism still present themselves as obstacles for people of color looking to enter this market. However, one entrepreneur isn’t letting that stand in her way.   View this post on Instagram   A post shared by ✨#1 CBD WELLNESS STORE✨ (@nuleaf.1) on Feb 23, 2020 at 1:30pm PST Jacquece Jennings, owner of Nuleaf #1 , is the first Black woman in Georgia to own a CBD company. While living in Seattle, Jennings studied the marijuana industry closely hoping to one day become a dispensary owner. This venture wasn’t without its challenges. Trying to navigate within the business as a Black woman proved to be tough at times, mostly with trust. “I pride myself on possessing knowledge within the CBD industry and at times I am faced with challenges because of who I am. I have...

Njera Perkins

Mar 17, 2020

Black Cannabis Startups in LA Find Themselves Locked Out of the Industry Despite Equity Program

The legalization of cannabis has sparked a once-taboo form of entrepreneurship and has since seen a 76 percent increase in the demand for cannabis-related jobs. As the cannabis market continues to bloom, people of color — who make up the majority of drug law violation arrests — are locked out the money-making enterprise. With the state of California leading the charge of the legal marijuana movement, some Black entrepreneurs still find it hard to open cannabis stores. The Los Angeles Social Equity Program (SEP) was designed to give those with low income, past cannabis-related offenses or arrests — or live in Disproportionately Impacted Areas — support in regards to owning and operating a licensed cannabis business. The program aims to empower those whose community was affected by the War On Drugs and break down obstacles that hinder entry into the cannabis business. One such obstacle is the sought after L.A. Department of Cannabis Regulation business license. According to The...

Devin Crudup

Feb 5, 2020