Snoop Dogg investing in Toronto pot-tracking firm
TORONTO — Rapper Snoop Dogg is investing in another Canadian cannabis venture as the country prepares for the legalization of marijuana by Canada Day next year.
Toronto-based Trellis, a cannabis inventory management software provider, said the weed-loving rapper’s venture capital firm is leading its latest $2-million US seed round. Snoop Dogg’s Casa Verde Capital invests in firms that support the cannabis industry, but don’t directly touch marijuana. Trellis, which has offices in Toronto and Oakland, California, provides what it calls a seed-to-sale inventory management platform for the cannabis industry.
The chief executive and founder of Trellis Pranav Sood said Snoop Dogg’s involvement helps to give his Toronto-based company a higher profile.
“For us, I think it just elevates the discussion and helps to boost our brand visibility,” he said.
Casa Verde Capital’s investment comes a year after Tweed Inc. and parent company Canopy Growth signed a deal with Snoop Dogg. That deal granted the Canadian marijuana producer exclusive rights to use certain content and brands owned by the rapper’s company LBC Holdings.
In October 2016, Tweed and Snoop Dogg announced the rapper’s Leafs By Snoop brand of cannabis would be available in Canada, exclusively to customers that registered with the producer. The companies said they would offer three Canadian Leafs By Snoop varieties - Sunset, Ocean View and Palm Tree CBD.