New Private Equity Fund Seeking $100M

A private equity fund launched by two High Times executives is looking to raise $100 million for investments in cannabis companies.

The HT Growth Fund plans to make individual investments of around $2 million on average, primarily in ancillary companies that don’t actually handle marijuana.

The fund will seek out established businesses that reached their growth limits without access to traditional capital markets, rather than true startups that need early-stage financing, according to the Denver Post. The average exit time will be five years.

The fund is run by Michael Kennedy and Michael Safir, who both have deep ties with High Times Magazine.

Kennedy runs a law firm in New York City and has served as general counsel and director for High Times since the 1970s. He’s also a major investor in the company that owns the magazine. Safir served as business manager of High Times since 2010 and helped plan the magazine’s Cannabis Cup events.

The two hope to raise $100 million in two years, which would make HT Growth the industry’s largest funding source (at least as of now).

Raising that much money could be difficult, given that many investors are still hesitant to pump money into the cannabis industry.

However, the climate is improving by the day, and several other cannabis-focused investment funds and groups have formed recently as a result. Additionally, recent indications that the federal government will take a hands-off approach to the marijuana businesses could help loosen investors’ pocketbooks.

5 comments on “New Private Equity Fund Seeking $100M
  1. eric frommer on

    The time seems to be right to start investing. When there is a gold rush on, it’s a good time to be in the pick and shovel business. I can’t wait to get on board with these guys. I just wish there was some link or other information given about how to invest other than the name, The HT Growth Fund.

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  2. Ralf-Rainer von Albedyhll on

    Please checkout CanInvest.org where we list 25 publicly listed companies (all except one on the OTC and about half as Pink stocks). You can see every company’s performance and of course directly view their website. We don’t offer any advice but provide this as a free service. (You need to activate cookies for the site to work or you can download the app if you have an iPad).

    The fact that the OTC is the most disreputable market is of course why most of the listings are located there. We think that even a startup like nextrx.net can raise funding from early-stage investors with the specific goal of doing a reverse merger with a part of the funds raised to provide a rather fast liquidity event. Are we dreaming? We don’t think so but time will tell.

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