There is no disputing that Snoop Dog, one of the (God or Dog) fathers of rap, continues to prove himself in the world of music while also making newsworthy waves in the cannabis industry—including overseas.
For those on the American side of the world, Snoop recently lit it up at the 56th Superbowl halftime show with an energetic performance.
Snoop Contributes to European Market
Beyond American borders, he is also making headlines. Namely, he also just invested $15 million into Frankfurt-based distributor Cansativa, which has the distinction of not only winning the monopoly contract from BfArM, the German FDA, to distribute all German grown medical cannabis nationally, but is now setting its sights on the nascent recreational market now being considered by German lawmakers.
This is not Snoop’s first foray into the international cannabis industry. Snoop also invested in Canopy Growth as the firm began to expand to Europe several years ago.
However, this is the largest check to date the rapper has written for a cannabis investment, via his VC firm, Casa Verde.
The Fight is on for the German Market
While Cansativa is obviously well-positioned in the German market, they are not the only distributor in the country. Indeed, over 100 cannabis specialty distribution licences have been granted by BfArM. That said, this B-series investment certainly positions Cansativa well against competitors (both present and future).
Their largest competitors so far include Sanity Group (based in Berlin) which has proved adept at attracting American capital, and further from well-known celebrities (like Will.I.Am). Beyond this, another Frankfurt distributor, Nimbus Health, was also just acquired for an undisclosed sum by Dr. Reddy’s—one of the largest generics pharmaceutical firms in the world, headquartered in India.
And this is far from the whole story. Over the last several years, …
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Author: Marguerite Arnold / High Times
