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Snoop wants in on the budding industry.
Celebrities are turning into technology investors left and right. Just look at Ashton Kutcher, 50 Cent, and MC Hammer. Now one more hip-hop artist is apparently prepared to pour some of his green into budding tech companies.
Snoop Dogg is reportedly raising a fund to invest in startups that focus on marijuana. According to TechCrunch, the rapper is trying to raise $25 million to fund the small companies that keep cropping up, aiming to make money off the growing interest in legalized cannabis.
Snoop isn’t going to work on his green thumb, rather fund applications and services that facilitate the trend that’s been on fire as of late. As TechCrunch reports:
It’s our understanding that the fund’s bets won’t have anything to do with cultivation and production. Instead, it will focus on tech affiliated with the growing legal cannabis industry.
Investors of all kinds are looking to cash in as marijuana quickly becomes legalized, both recreationally and for medicinal purposes, across the U.S. Companies like American Green, that makes pot vending machines, and Meadow, a startup providing on-demand delivery of both weed and doctors, are growing both in popularity and number.
And perhaps there’s no one better to spot pure tech talent when it comes to cannabis services than Snoop.
Selena Larson is a technology reporter based in San Francisco who writes about the intersection of technology and culture. Her work explores new technologies and the way they impact industries, human behavior, and security and privacy. Since leaving the Daily Dot, she's reported for CNN Money and done technical writing for cybersecurity firm Dragos.