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“We pivoted this to do this in an indoor facility so that’s already something different to most other European projects,” he said, predicting that by 2024 AceCann’s new production facility could provide for as much as €15-20 million in annual sales.
The artist, whose real name is Calvin Broadus, is the co-founder of Casa Verde, a vulture capital (VC) fund based in Los Angeles that focuses on the cannabis industry.
“With an experienced team, unique cultivation and extraction techniques and vast network, AceCann can become a premium provider to Europe’s booming medical cannabis industry”.
Europe’s cannabis wave
Germany could in due course legalise cannabis for all adults as all three parties engaged in coalition talks following the September election plan to relax the ban on cannabis possession.
“As legalisation sweeps across Europe, we foresee a rapid and exponential rise in demand for high-quality cannabis flower and extracts,” the company said on its website.
AceCann chief executive Pedro Gomes told Sifted that Snoop Dogg and Casa Verde’s involvement marked a huge show of confidence in the startup.
“Having Casa Verde on board, with their track record in the US, and being their first investment in Europe, it’s definitely a stamp of quality for us,” he told the publication.