05 Jul Snoop Dogg Joins the Myriad of Celebrities Investing in Medical Cannabis
You may not necessarily know the name Calvin Cordozar Broadus Jr, but we can almost guarantee that you will know the man who goes by the name of Snoop Dogg. Snoop Doggy Dogg (as he is also known) has joined a myriad of celebrities investing in medical cannabis and has, in fact, invested in several cannabis start-ups, including Oxford Cannabinoid Technologies in the UK via his venture capital firm Casa Verde Capital.
We think Casa Verde is a very apt name for a capital investment company that is investing in the medical cannabis industry.
Snoop Dogg is a multi-award-winning rapper, singer-songwriter, actor and businessman. He has sold over 35 million albums worldwide and appeared in numerous films, TV shows and even a stage play. The talented and multifaceted artist has now turned those talents into making wise investments in the medical cannabis market.
The Snoop Dog backed British company launched on the UK stock exchange in May. Oxford Cannabinoid Technologies is focusing on developing cannabinoid medication that helps to relieve pain. Pitchbook reports that OCT raised gross proceeds of £16.5 million ($23.4 million) in its initial public offering, with a starting market value of just over £48 million ($69.1 million).
It is estimated that the European cannabis market will be worth over £100 billion by 2028.
This is why so many celebrities are investing in medical cannabis and wellness cannabis products. Some stars are also investing for recreational use because Cannabis is legal in several states across America, The Netherlands, Canada, Portugal, Switzerland and many other countries worldwide.
Sir Patrick Stewart
Snoop Dogg is in good company by investing in Oxford Cannabinoid Technologies. Because fellow celebrity Sir Patrick Stewart of Star Trek and X-Men fame also invested in the British company. They are focusing on research into medical cannabis as an alternative treatment for a host of health issues, including inflammatory diseases, cancer, pain management and neurological disorders such as Parkinson’s and MS.
Melissa Ethridge & Olivia Newton-John
American singer-songwriter Melissa Ethridge is one of several female Grammy Award-winning artists who have used cannabis to treat the painful symptoms of cancer treatment and subsequently then invested in their own cannabis production. Olivia Newton-John set up a business with her husband called the Amazon Herb Company with her husband John Easterling from their ranch in Australia.
Sir Richard Branson
Sir Richard Branson, founder of the Virgin group and the latest venture in space travel Virgin Galactic, has long advocated for legalising cannabis in the UK. So, it will come as no surprise that he has invested in a medical marijuana company called Sidecar and is a member of the Global Commission on Drug Policy.
The world-renowned Canadian rapper Drake has also joined his musical counterpart in investing in the cannabis industry. The More Life Growth Co is focusing on medical cannabis, including THC and CBD and cannabis accessories.
Former television host and award-winning TV personality Montel Williams created his own line of medical cannabis products through his own MS foundation and his Lenitiv Scientific company and labs. Montel Williams was diagnosed with Multiple Sclerosis in 1999 and has used medical cannabis to help alleviate his symptoms.
With long Covid already being felt by those infected, the uncertainty of what this pandemic will leave behind in terms of the virus and the treatments. Medical marijuana investments could help thousands of people worldwide alleviate the pain and suffering caused by Covid-19 and countless other illnesses and symptoms which people experience today.
Oxford Cannabinoid Technologies plan to develop non-addictive drugs for the medical treatment of pain conditions utilising the IPO proceeds to do so. In its listing announcement, OCT said its “primary market focus is the total addressable pain market, which is estimated to be worth at least £42.5 billion by the commercialisation of the first drug produced by OCT, currently anticipated to be in 2027.”
Celebrities are investing in medical cannabis to help alleviate the pain and symptoms experienced by humans for various reasons. Having personally experienced the pain-relieving power of medical marijuana themselves whilst suffering illness or wishing to increase wellness, they see the potential for helping people and see the incredible investment opportunity to get on board at an exciting time in history.