British American Tobacco, Snoop Dogg get behind Germany’s cannabis industry

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The European cannabis market is expanding rapidly, drawing a lot of international attention

Casa Verde is a company that finances companies in the cannabis industry. The company has been in operation since 2015 and maintains that the cannabis industry represents one of the most attractive investment opportunities of this generation. Snoop Dogg is a key member of Casa Verde with over 20 years of industry experience and is also a seasoned investor. Now German cannabis startup Sanity Group GmbH, a Casa Verde portfolio company, has received an investment from British American Tobacco (BAT), the tobacco giant’s latest bet on the cannabis market.

In mid-February, it was announced that Casa Verde funded with $15 million the Cansativa group, pioneers and leaders in the industry shaping and driving a new era of legal adult-use cannabis in Germany and across Europe. This represents Casa Verde’s largest investment in Germany and Europe to date. Now, movements like these continue to arrive on the scene.

Through a Series B funding round led by BAT, Sanity founder and CEO Finn Age Hänsel said his Berlin-based company was able to raise $37.6 million. Approximately half of those funds will go to strengthen Sanity’s medical business, while the rest will be used to prepare for the possible legalization of recreational marijuana in Germany.

Through one of its wholly owned group companies, BAT indicates that this investment now gives it a non-controlling minority stake in Sanity. The tobacco giant’s interest in Germany seems hardly surprising, as the country represents Europe’s largest economy and has more than 83 million inhabitants.

Most likely, regardless of the difficulties that have arisen so far, the German recreational market will be able to dominate the European conversation. Germans are health conscious and absolutely curious about cannabis right now. For that reason, Snoop Dogg and BAT are certainly smart and visionary.

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