U.S.-Based Psychedelic Healthcare VC Fund, Palo Santo, Launches with $35 Million Raised to Tackle the Growing Global Mental Health Crisis

CANNANNEW REPORT

Here’s the press release CHICAGO, July 15, 2021 /PRNewswire/ — Palo Santo, the leading U.S.-based psychedelic investment fund, announced its launch with an initial $35 million in capital raised and an active portfolio of 20 companies. The diversified venture fund is focused on tackling the growing global mental health crisis by investing in innovative psychedelic-based and adjacent therapies that are poised to shape the future of psychiatry and fields beyond. In 2020, founders Daniel Goldberg, Tim Schlidt and Tony Eisenberg partnered to form Palo Santo, and formally launched the venture capital fund in 2021. Having seen the enormous therapeutic potential of psychedelic medicines years ago, the partners have been active as early participants and investors in the emerging industry. Innovative psychedelic-based and adjacent therapies are poised to shape the future of psychiatry and fields beyond. Tweet this Supported by a rapidly growing body of evidence and strong FDA support, psychedelic-assisted treatments represent a paradigm shift in mental healthcare. Yet, the emerging ecosystem of business opportunities is highly fragmented, and with a lack of institutional capital available, Palo Santo is targeting early-stage, high-growth opportunities within biopharma, drug development, digital therapeutics, healthcare services and tech enabled solutions. These businesses are positioned to have a profound impact on treating a wide range of conditions such as depression, PTSD, anxiety, OCD, addiction, chronic or neuropathic pain, neurodegenerative diseases and a range of inflammatory-related illnesses. To date, Palo Santo has partnered with and funded more than 20 portfolio companies with notable investments such as atai Life Sciences (NASDAQ: ATAI), Reset Pharma, Field Trip Health, Tactogen, Eleusis, Bexson Biomedical, Ksana Health, neuroCare, Bright Minds, Diamond Therapeutics and Gilgamesh, among others. With a track record of success in backing early-stage enterprises, Palo Santo’s team of investment professionals brings together decades of venture capital, private equity, and healthcare-focused experience. The team is further supported by scientific advisors Charles Nichols, one of the world’s leading psychedelic pharmacologists; Julie Holland, renowned psychiatrist, psychopharmacologist and author; David Sherman, a medicinal…

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Source : U.S.-Based Psychedelic Healthcare VC Fund, Palo Santo, Launches with Million Raised to Tackle the Growing Global Mental Health Crisis

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