Snoop Dogg-backed cannabis investment fund Casa Verde Capital raises another US$100 million

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Casa Verde Capital believes the cannabis industry is set to rebound as the investment fund co-founded by Snoop Dogg has closed on US$100 million in funding, reports Tech Crunch . The fund is managed by Karan Wadhera, who last spoke with Tech Crunch in July. In that interview, Wadhera said the public perception of cannabis is not too dissimilar to the dotcom bubble of the late ’90s, with many investors falling prey to valuations not rooted in reality, but that the industry was beginning to stabilize. Wadhera pointed to the COVID-19 pandemic as providing evidence that the sector is not cyclical. “Cannabis has been deemed an essential business everywhere across the U.S. We had record sales in March, April and May, and the trend has continued,” Wadhera said. “And now that we are getting into an environment where governments are going to be looking for additional sources of tax revenue, the potential urgency around cannabis legalization is going to be there, which is going to be massively positive for the industry,” he added. Bruce Linton raises $150 million for a hemp company during a pandemic Kevin Durant and Snoop Dogg invest in new cannabis delivery service Wall Street’s Marijuana Madness Reminds Investors Of Dotcom Boom The latest round of funding more than doubles Casa Verde’s debut fund , which closed at US$45 million. The Casa Verde portfolio is worth at least US$200 million, reports Tech Crunch , and the fund is predicting 30 per cent growth in its market estimates following cannabis legalization in Arizona, Montana, South Dakota and New Jersey, which is set to become the largest recreational market on the east coast. Wadhera is also expecting a Biden administration to create a more positive regulatory environment for the country’s emerging cannabis markets. “He has laid out many of…

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Source : Snoop Dogg-backed cannabis investment fund Casa Verde Capital raises another US0 million

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