Snoop Dogg Moves Forward With His Pot-Based Fund

Earlier this year, Calvin Broadus, more commonly known by his stage name Snoop Dogg, announced that he was planning to launch a fund that would invest in cannabis startups.

The famous rapper has been open about marijuana use throughout the course of his career, but now he is hoping to profit even further from the newly legalized substance.

Casa Verde

Last week, Snoop Dogg continued his efforts to establish the fund by filing with the Securities and Exchange Commission as a manager of the new fund, to be called Casa Verde Capital, L.P.

Casa Verde, which translates from Spanish to "Green House," is planning to raise $25 million from outside investors, which will be used to support pot-based startups. However, the fund hasn't raised any money just yet.

Related Link: The Business Of Marketing Marijuana

Celebrities Get Behind Marijuana

Snoop Dogg isn't the first famous face to throw his money behind the growing marijuana industry. Willie Nelson also entered the space this year with his own brand, called Willie's Reserve. The country music star also released a single, "It's All Going To Pot," in order to raise awareness for his new venture.

Famous pot-smoker Bob Marley's family is also hoping to capitalize on the late reggae singer's popularity in the marijuana community by creating the Marley Natural brand, which offers everything from marijuana infused massage oils to a smokable signature marijuana blend.

Image Credit: "Snoop Dogg in car" by dodge challenger1 - Licensed under CC BY 2.0 via Wikimedia Commons