PHOENIX, Jan. 10, 2018 /PRNewswire/ -- 4Front Holdings, LLC ("4Front"), a leading investment and management firm in the cannabis industry, today announced it has raised approximately $6 million to help it continue to support the build-out of its partners' multi-state operations footprint.
4Front is in the midst of rapid growth as it continues to secure, support, and manage operating licenses in nascent, state-legal medical cannabis markets. In addition to supporting its client partners, 4Front manages medical cannabis dispensaries under the Mission brand and is developing innovative, full-spectrum medical cannabis products.
"2018 will be a transformative year both for the industry as well as 4Front," said Kris Krane, president and co-founder of 4Front. "There are several exciting opportunities in the emerging legal cannabis industry and we're looking forward to using these funds to continue to expand our footprint and the Mission brand."
The Mission brand embodies best practices developed by the 4Front team over several years operating in the industry, coupled with team members' expertise honed at companies like Sweetgreen, Hillstone Restaurant Group, and Pulte Homes. With Mission, 4Front has developed a scalable model for how to operate medical cannabis retail facilities in a safe, secure, and professional manner.
4Front is currently working hand-in-hand with local partners to build out Mission-branded medical cannabis operations in Maryland, Illinois, Pennsylvania, and Massachusetts. 4Front supported the opening of the first Mission dispensary last summer in Chicago.
4Front closed its fundraising round in early November. It raised the funds in the form of convertible notes. It brings the total 4Front raised in 2017 to $10 million, as it raised approximately $4 million in convertible loans last spring.
4Front Holdings, LLC ("4Front") is a leading investment and management firm in the U.S. cannabis sector. It has developed a national platform that consists of a multi-state footprint and a far-reaching network of partnership relationships. Led by a group of professionals with experience in finance, real estate, manufacturing, and multi-location retail and hospitality operations, 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise that can support the rapid operational growth opportunity being afforded by the increased legalization of cannabis across the United States as well as internationally. For more information, learn more about us.