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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