High Times, the magazine that has been catering to cannabis enthusiasts for four decades, wants investors to light up a new venture.
The magazine is working to set up the High Times Growth Fund, a private equity vehicle that would allow investors to connect with legitimate pot start-ups.
The aim is to open next month and to raise $100 million over two years, according to Michael Safir, the business manager of High Times, who will work for the fund full time once it launches.
He said that the fund, which is open only to accredited investors, could dwarf other private equity ventures in the budding pot industry.
"Basically, the main obstacle is getting people over the fear of investing in cannabis," Safir told CNBC in an interview. "I've kind of taken the position that if you believe in it, it doesn't matter what we say—you're going to give us a check."
(Read more: WeedMaps: Meet the Yelp of the marijuana business)