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...

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...