“When a pot smuggler named Tom Forcade approached Michael Kennedy in 1974 with his plan for a magazine devoted to helping Americans grow weed, Kennedy asked, what’s the point? The magazine, High Times, has survived as an icon of dope culture, and Kennedy, a criminal defense lawyer, has improbably ended up as its controlling owner. Now, with marijuana legal in some form in 22 states, the counterculture institution is aiming to raise $300 million for the High Times Growth Fund, which will make private equity investments in the marijuana business. Privateer Holdings, another private equity fund focusing on the industry, raised $15 million in February.”
http://www.businessweek.com/printer/articles/208445-high-times-on-wall-street
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