The hashish mutual fund Casa Verde Capital, backed by Snoop Dogg, is elevating a further $ 100 million

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The latest round of funding more than doubled Casa Verde’s debut fund, which closed at $ 45 million. Casa Verde’s portfolio is valued at at least $ 200 million, according to Tech Crunch. The fund projects its market estimates to grow 30 percent after legalizing cannabis in Arizona, Montana, South Dakota and New Jersey, which is expected to become the largest recreational market on the East Coast.

Wadhera also expects a Biden government to create a more positive regulatory environment for the country’s emerging cannabis markets.

“He laid out a lot of the things he wanted and [while] he does not go as far as full legalization, he is certainly in favor of full decriminalization, [meaning] States have full authority over what happens to their businesses, including rescheduling cannabis from the current Schedule 1 level, ”Wadhera told Tech Crunch.

Snoop Dogg isn’t the only cannabis entrepreneur to raise money despite the COVID-19 pandemic.

In July, Bruce Linton-assisted collective growth raised $ 150 million related to hemp and CBD opportunities facing European markets.

“The best technology is in Europe,” said Linton. “Because they haven’t gotten around to banning hemp, they have the best in the field and some small and medium-sized businesses that are doing really interesting things in hemp,” he added.

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