When any venture capital firm invests $10 million into an enterprising company, it’s worth paying attention to. But this is especially true when that venture firm is Casa Verde Capital, otherwise known as Snoop Dogg’s venture firm, which dedicates its investments into the ancillary businesses of the cannabis industry.
So what did Snoop Dogg and Casa Verde Capital invest $10 million into? That would be Oxford Cannabinoid Technologies, a U.K. biotech firm that concentrates its research on the medical usages of marijuana. Casa Verde’s investment coincided with OCT’s Series A funding that wrapped last week, as the firm sought out a research partnership and laboratory in Europe.
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The Casa Verde investment will help support OCT’s research into how cannabinoids can be used in cancer treatments, pain and inflammation therapies, and remedies for gastrointestinal diseases. As Green Rush Daily reported, “Casa Verde’s managing partner Karan Wadhera knows the chairman of OCT very well and thinks the company is taking an excellent, scientific approach to studying cannabinoids and advancing the medical field.”
Snoop Dogg isn’t the only high-profile celebrity association that OCT can claim. Sir Patrick Stewart, who announced as a Patron of the company, will join OCT’s advisory board.
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“I am proud to become a patron of OCT,” Stewart said in a statement. “It’s wonderful that OCT have got together the funding that means that Britain will lead the way in what is, in my view, one of the world’s most exciting fields of medical research. The possibilities seem to me to be virtually limitless.”