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Snoop Dogg Looks to Raise $25m to Fund Cannabis Startups

Ryan Allway

February 11th, 2015

Policy, Top News

Snoop Dogg may be well known for his love of marijuana, but he may be soon looking to do a lot more than just rap about it. According to TechCrunch, the iconic musician is seeking to raise $25 million to invest in cannabis-related startups.

The move comes as the cannabis industry has been gaining steam in the U.S., driven by both recreational and medical legalization in several states. According to GreenWave Advisors, the U.S. cannabis industry could be worth more than $35 billion by 2020 if all 50 states legalize the drug. Even a more modest scenario where just some states legalize the drug could still result in a market that’s worth some $21 billion over the next five years.

Snoop Dogg has already been a prolific investor – having purchased stakes in the social media giant Reddit and the commission-free brokerage RobinHood – but the move would mark his first foray into the legal cannabis industry. He would join other prolific investors in taking advantage of the industry’s growth, such as PayPal co-founder Peter Thiel, who recently invested millions into Privateer – a Seattle-based company that owns Leafly.com.

[stockchart symbol=TWMJF]

For now, the average investor is largely confined to public companies when it comes to investing in the burgeoning cannabis industry. While many of these companies aren’t as “hot” as startups in the space, they still offer exposure to both the U.S. and Canadian cannabis markets. Companies like Tweed Marijuana Inc. [stockquote symbol=TWMJF] (TSX-V: TWD) have even secured licenses to grow medical marijuana.

With Snoop Dogg, Peter Thiel, and many others getting involved, investors of all types may want to keep an eye on public and private companies in the space as potential investment opportunities.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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