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Cannabis Kingpin Carissa Davino Buys $9 Million L.A. Mansion

California’s legalization of recreational marijuana has reaped incredible financial rewards for many in the cannabis industry, but most notably for those at the very top of the proverbial food (weed?) chain. One of those executives is Carissa Davino, a Chicago resident who now spends a significant amount of time in Los Angeles, where her various business interests are mainly headquartered.Though she keeps a low public profile, records show Davino is the sole managing member of Double Barrel LLC, the corporate entity that owns a patented dual-chamber vaporizer — something that allows cannabis connoisseurs the ability to vape two cartridges at once. The device, which retails for a princely $90 per unit and is specifically targeted at a “sophisticated yet overlooked connoisseur” has nonetheless become popular throughout the nation, perhaps thanks to endorsements by celebrity vape aficionados. In 2018, Diddy reportedly ordered 50 double barrels for his Coachella crew alone.

Davino is also president of Avanzato Technology, the Westside L.A.-based firm that specializes in manufacturing devices such as e-cigarettes and vaporizers. Avanzato also churns out innovations within its particular field niche, including the increasingly popular vape pens, which have become staple products of high-profile cannabis brands like Dosist.

In addition to Davino’s entrepreneurial vape endeavors, public company financial disclosures reveal the Italian-American marijuana mogul was one of the largest stakeholders in Sunniva, a publicly-traded cannabis firm based in Vancouver. As of 2016, Davino’s partial ownership stake in Sunniva alone was valued at more than $8.6 million.

Last year, Davino put some of that green back into the real estate market, shelling out $9 million for a swank L.A. residence. Built on speculation and completed in 2018, Davino’s boxy contemporary extravaganza lies just above the iconic Sunset Strip, in the lower Hollywood Hills, and is completely surrounded by camera-watched walls and gates for privacy.

To Read The Rest Of This Article By James McClain on Variety Magazine

Published: March 28, 2020

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