Snoop Dogg Invests $10m In Marijuana Company

Celebs July 3, 2018 By Hugo

Snoop Dogg being a fan of weed is nothing new, but his latest business venture, which is, of course, weed-related, has raised a few eyebrows following a mammoth $10m investment in a British marijuana company.

Shutterstock/ Kobby Dagan

The company in question is called Oxford Cannabinoid Technologies, a biopharmaceutical firm which continues to invest millions of pounds in the hopes of making technological advancements through cannabis.

Snoop's $10 million investment comes via his venture capitalist firm, Casa Verde Capital. 

Confirming the news, a spokesperson for OCT said, "The capital raised (by the deal with Casa Verde Capital) will be used to establish a strategic research partnership and laboratory in Europe.

"This will support OCT's research into the mechanisms of cannabinoids in order to develop treatments that improve the quality of life for millions of patients around the world.

"Institutional involvement in OCT adds further impetus and credibility to the fast-growing medical cannabis market."

But Snoop isn't the only celebrity to get involved. Patrick Stewart also confirmed that he has also invested in the company.

"I am proud to become the patron of OCT," said the British actor. "It's wonderful that OCT have got together the funding that means that Britain will lead the way in what is, in my view, one of the world's most exciting fields of medical research. The possibilities seem to me to be virtually limitless."

Regarding Snoop's involvement, it would appear his investment will be just one of many, with Casa Verde Capital described as 'the leading venture capital firm focusing exclusively on the cannabis industry'.

"As both the domestic and international cannabis markets continue to evolve and mature, CVC maintains a view that the cannabis industry will be among the most compelling investment themes of our generation.!

"Primarily aimed at the ancillary cannabis ecosystem, commonly referred to as 'not touching the plant', CVC invests in the legal, scalable 'picks and shovels' that support the expanding industry."

"The ancillary cannabis category includes, but is not limited to, verticals such as tech, health & wellness, financial services, technology, media, compliance and laboratory technology."

Who'd have thought Snoop loved Mary Jane so much? 

In other news, the Pope appears to be a Catholic. 

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