The Denver Post is reporting that High Times magazine is launching a private equity fund that will be used to invest in marijuana businesses that aren't likely to get Small Business Administration loans.
From the article...
"Investments are expected to be from $2 million to $5 million per company, making HT Growth more of a venture-capital or private-equity firm rather than an angel investor.
Safir said the fund is looking for "best of breed" businesses with strong management teams. Although it will consider marijuana cultivation and retailers, the fund's focus will be primarily on ancillary businesses."
The Post also said that the equity fund will be a separate entity from the magazine and that it is likely to operate similarly to most other private equity funds, though it will still use expertise within the company to advise management.
Read the full story here.