Snoop Dogg Invests $10M Into British Weed Company

Today, Snoop Dogg is more than simply an icon of cannabis culture. He’s a major player in the international cannabis industry, as a result of Casa Verde Capital. Casa Verde is Snoop’s venture capital company. And on Thursday, it announced a $10 million investment in a young medical cannabis research company in the UK.

Oxford Cannabinoid Technologies is a British biotech company that specializes in conducting research into the medical uses of cannabis. Last week, OCT wrapped up a Series A round of fundraising to raise funds for a research venture and lab in Europe.

Snoop Dogg’s Casa Verde venture capital company made one of the biggest investments, together with Imperial Brands Ventures Ltd.. Imperial Brands is a worldwide tobacco giant, and it’s teaming up with Snoop Dogg to invest in OCT.. Major tobacco brands are owned by imperial . But lately, the business has been positioning itself to make major moves into cannabis. This past year, Imperial added Canadian cannabis executive Simon Langelier to its board.

Snoop Dogg’s Casa Verde Capital Bets Big On International Cannabis Biotech

Unlike Imperial, Casa Verde Capital focuses exclusively on the cannabis industry. Casa Verde invests in the “ ” cannabis market that is ancillary. Ancillary companies don’t “touch the plant” but encourage the industry’s growth.  These include health and wellness companies, financial services, media, agtech and lab technology.

CVC’s series A investment in Oxford Cannabinoid Technologies represents a significant step for the venture capital firm. It also represents CVC’s faith in a young cannabis biopharmaceutical company. OCT setup shop in 2017, and Casa Verde has been following them closely since. In actuality, Casa Verde’s managing partner Karan Wadhera knows the chairman of OCT very well and believes the company is carrying an outstanding, scientific approach to studying cannabinoids and advancing the medical field.

The Series A round of investments will encourage OCT’s research into cannabinoid therapies for several high demand areas. Pain and inflammation remedies, cancer treatments, and remedies for gastrointestinal diseases would be the company ’s top priorities.

Snoop Dogg Isn’t the Only Celebrity To Support Oxford Cannabinoid Technologies

Along with Snoop Dogg, OCT has won support from a different celebrity, Patrick Stewart. The British actor, perhaps known best for his role as Captain Jean-Luc Picard on Star Trek, is also an outspoken medical cannabis patient.  Stewart uses cannabis to treat his arthritis. Last week, Stewart became OCT’s new Patron and will be joining the firm ’s advisory board in that capacity. OCT is currently recruiting scientists and policymakers from around the world to fill out its advisory board.

Released at Mon, 02 Jul 2018 18:23:38 +0000

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