Cresco Capital backs $25 million funding of CPG marijuana firm

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Los Angeles-based Future State Brands, a consumer brands cannabis holding company, received $25 million of funding led by Cresco Capital Partners.

Future State Brands has a portfolio of hemp, THC and CBD brands in a variety of sectors including beverage, clothing and cosmetics.

The proceeds will be used by the holding company for product development and potential acquisitions.

Dallas-based Cresco Capital is a cannabis-focused investment group which has allocated at least $85 million to the industry since its inception in 2014.

More details on the funding can be found here.

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