Tiger Global, Casa Verde to Fund Cannabis Software Venture
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Tiger Global Management is partnering with Casa Verde Capital — Snoop Dogg’s marijuana venture fund — to lead a $50 million funding round for Metrc, a company that supplies software to the cannabis industry.
Metrc, which launched in 2013 after Colorado legalized the sale of recreational marijuana, provides software used in 11 states and Washington D.C. that lets growers, sellers and regulators “track and trace” legal cannabis.
This is the second time that Tiger Global and Casa Verde have joined forces on marijuana software investment. Earlier this year, they invested in Green Bits, a developer of compliance software for cannabis businesses.