Snoop Dogg’s Latest Round of Investments
The famous rapper Snoop Dogg just made a personal seed investment of $2m in GameOn, a new sports talk app, this month. Earlier in January, he had invested a seed of undisclosed amount in the same startup.
When asked why he chose to diversify into the app, he said that it is because he loves sports and thinks GameOn is a good way for fans to converse about games.
The celebrity also struck a business deal with the Ontario based cannabis producer Tweed in February this year.
The agreement gave Tweed exclusive rights to use selected brands and content owned by the musician’s firm, LBC Holdings. In exchange, Tweed paid Snoop Dogg an unknown amount in stock and cash.
Mark Zekulin, Tweed president, describes Snoop Dogg as an icon and connoisseur in the marijuana industry. The rapper who also sips gin-and-juice is an experienced investor by now.
Calvin Broadus, aka Snoop Dogg, has invested a lot recently in the pot business, including starting his own marijuana firm, Leafs by Snoop, based in Colorado late last year.
Snoop Dogg was one of the venture capitalists that gave $10m Series B funding to Eaze in April last year. Eaze, a California-based startup, promises to deliver medicinal cannabis to your door step within 10 minutes.
Eaze’s products are lab tested and high quality. This is how Eaze works: place your order online, your order is directed to a local dispensary and is assigned to a driver, when the driver reaches your house he lets you know through a text message.
In February last year, Snoop Dogg launched his venture capital business by creating a fund by the name Casa Verde Capital L.P. and raised $25m at its launch. The fund focuses on investing in marijuana startups.
In the same month, he showed his love for organic drinks by contributing in raising $15m Series B funding for Philz Coffee, a San Francisco coffee chain.
Philz is known for its filter-dripped, made-to-order coffee served with cream and organic sugar, handcrafted by baristas who say to customers “take a sip, and let me know if it’s perfect”.
It is rumored to believe that the Investments done in Philz Coffee chain is in preparation for full legalization where adults can go out and smoke marijuana legally in coffee shops, so Snoop Dogg is making sure he is getting a fat piece of that market when it becomes available.
Snoop has invested in a lot more companies earlier including the stock trading app Robinhood and the social media power house Reddit.