{"id":513583,"date":"2021-07-15T09:04:32","date_gmt":"2021-07-15T13:04:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/leading-u-s-based-psychedelic-healthcare-vc-fund-launches-with-35-million-raised-to-tackle-the-growing-global-mental-health-crisis\/"},"modified":"2021-07-15T09:04:32","modified_gmt":"2021-07-15T13:04:32","slug":"leading-u-s-based-psychedelic-healthcare-vc-fund-launches-with-35-million-raised-to-tackle-the-growing-global-mental-health-crisis","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/leading-u-s-based-psychedelic-healthcare-vc-fund-launches-with-35-million-raised-to-tackle-the-growing-global-mental-health-crisis\/","title":{"rendered":"Leading U.S.-Based Psychedelic Healthcare VC Fund Launches with $35 Million Raised to Tackle the Growing Global Mental Health Crisis"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Palo Santo&#8217;s Commitment to Help Fund a New Paradigm in Wellbeing<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">CHICAGO<\/span>, <span class=\"xn-chron\">July 15, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0<u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1485883377&amp;u=https%3A%2F%2Fpalosanto.vc%2F&amp;a=P\" target=\"_blank\" rel=\"nofollow noopener\">P<\/a><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=2766128301&amp;u=https%3A%2F%2Fpalosanto.vc%2F&amp;a=alo+Santo\" target=\"_blank\" rel=\"nofollow noopener\">alo Santo<\/a><\/u>, the leading U.S.-based psychedelic investment fund, announced its launch with an initial <span class=\"xn-money\">$35 million<\/span> 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.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1572394\/Palo_Santo_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1572394\/Palo_Santo_Logo.jpg\" title=\"Palo Santo is the leading U.S.-based psychedelic investment fund focused on increasing the supply of clinically effective and accessible mental health and addiction treatment solutions needed in today\u2019s world. (PRNewsfoto\/Palo Santo)\" alt=\"Palo Santo is the leading U.S.-based psychedelic investment fund focused on increasing the supply of clinically effective and accessible mental health and addiction treatment solutions needed in today\u2019s world. (PRNewsfoto\/Palo Santo)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div id=\"divReleaseHighlighte59b\" style=\"border-top: gray 1px solid;width: 200px;border-bottom: gray 1px solid;float: left;border-left-color: gray;color: gray;text-align: justify;margin: 5px 10px;border-right-color: gray\">Innovative psychedelic-based and adjacent therapies are poised to shape the future of psychiatry and fields beyond.<\/div>\n<p>In 2020, founders <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1094361088&amp;u=https%3A%2F%2Fwww.palosanto.vc%2Fteam%2F&amp;a=Daniel+Goldberg\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Daniel Goldberg<\/span><\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=4240930279&amp;u=https%3A%2F%2Fwww.palosanto.vc%2Fteam%2F&amp;a=Tim+Schlidt\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Tim Schlidt<\/span><\/a><\/u> and <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1929870037&amp;u=https%3A%2F%2Fwww.palosanto.vc%2Fteam%2F&amp;a=Tony+Eisenberg\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Tony Eisenberg<\/span><\/a><\/u> 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.<\/p>\n<p>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.<\/p>\n<p>To date, Palo Santo has partnered with and funded more than<u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=410635664&amp;u=https%3A%2F%2Fpalosanto.vc%2Fportfolio&amp;a=%C2%A0\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0<\/a><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=204455958&amp;u=https%3A%2F%2Fpalosanto.vc%2Fportfolio&amp;a=20+portfolio+companies\" target=\"_blank\" rel=\"nofollow noopener\">20 portfolio companies<\/a><\/u> with notable investments such as <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1630856612&amp;u=https%3A%2F%2Fwww.atai.life%2F&amp;a=atai+Life+Sciences\" target=\"_blank\" rel=\"nofollow noopener\">atai Life Sciences<\/a><\/u> (<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=2208480830&amp;u=https%3A%2F%2Fwww.nasdaq.com%2Fmarket-activity%2Fstocks%2Fatai&amp;a=NASDAQ%3A+ATAI\" target=\"_blank\" rel=\"nofollow noopener\">NASDAQ: ATAI<\/a>), <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=2982957888&amp;u=https%3A%2F%2Fwww.globenewswire.com%2Fnews-release%2F2021%2F07%2F07%2F2258793%2F0%2Fen%2FReset-Pharmaceuticals-Enters-into-Exclusive-Worldwide-License-Agreement-with-NYU-Langone-Health-for-Intellectual-Property-and-Data-on-Psilocybin-and-Related-Psychedelics-for-the-Tr.html&amp;a=Reset+Pharma\" target=\"_blank\" rel=\"nofollow noopener\">Reset Pharma<\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=3748020471&amp;u=https%3A%2F%2Fwww.fieldtriphealth.com%2F&amp;a=Field+Trip+Health\" target=\"_blank\" rel=\"nofollow noopener\">Field Trip Health<\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1980557919&amp;u=https%3A%2F%2Ftactogen.com%2F&amp;a=Tactogen\" target=\"_blank\" rel=\"nofollow noopener\">Tactogen<\/a><\/u>,<u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=3579274615&amp;u=https%3A%2F%2Fwww.eleusisltd.com%2F&amp;a=%C2%A0\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0<\/a><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1436877594&amp;u=https%3A%2F%2Fwww.eleusisltd.com%2F&amp;a=Eleusis\" target=\"_blank\" rel=\"nofollow noopener\">Eleusis<\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1196026924&amp;u=https%3A%2F%2Fwww.bexsonbiomedical.com%2F&amp;a=Bexson+Biomedical\" target=\"_blank\" rel=\"nofollow noopener\">Bexson Biomedical<\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=3104973732&amp;u=https%3A%2F%2Fksanahealth.com%2F&amp;a=Ksana+Health\" target=\"_blank\" rel=\"nofollow noopener\">Ksana Health<\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=54505080&amp;u=https%3A%2F%2Fwww.neurocaregroup.com%2Fhome.html&amp;a=neuroCare\" target=\"_blank\" rel=\"nofollow noopener\">neuroCare<\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=109891633&amp;u=https%3A%2F%2Fbrightmindsbio.com%2F&amp;a=Bright+Minds\" target=\"_blank\" rel=\"nofollow noopener\">Bright Minds<\/a><\/u>, <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=106752420&amp;u=https%3A%2F%2Fwww.diamondthera.com%2F&amp;a=Diamond+Therapeutics\" target=\"_blank\" rel=\"nofollow noopener\">Diamond Therapeutics<\/a><\/u> and<u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=797881888&amp;u=https%3A%2F%2Fwww.gilgameshpharmaceutical.com%2F&amp;a=%C2%A0\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0<\/a><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1331165376&amp;u=https%3A%2F%2Fwww.gilgameshpharmaceutical.com%2F&amp;a=Gilgamesh\" target=\"_blank\" rel=\"nofollow noopener\">Gilgamesh<\/a><\/u>, among others.<\/p>\n<p>With a track record of success in backing early-stage enterprises, Palo Santo&#8217;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 <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=4151527027&amp;u=https%3A%2F%2Fwww.medschool.lsuhsc.edu%2Fpharmacology%2Fnichols_new.aspx&amp;a=Charles+Nichols\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Charles Nichols<\/span><\/a><\/u>, one of the world&#8217;s leading psychedelic pharmacologists; <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=2967193569&amp;u=https%3A%2F%2Fwww.naturalmood.com%2F&amp;a=Julie+Holland\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Julie Holland<\/span><\/a><\/u>, renowned psychiatrist, psychopharmacologist and author; <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1475703755&amp;u=https%3A%2F%2Fwww.lsi.umich.edu%2Fscience%2Four-labs%2Fdavid-sherman-lab&amp;a=David+Sherman\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">David Sherman<\/span><\/a><\/u>, a medicinal chemist and head of the <span class=\"xn-org\">University of Michigan<\/span> psychedelic collective; and<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1374515732&amp;u=https%3A%2F%2Fmedicine.umich.edu%2Fdept%2Fpsychiatry%2Fjohn-greden-md&amp;a=%C2%A0\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0<\/a><u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=2217551684&amp;u=https%3A%2F%2Fmedicine.umich.edu%2Fdept%2Fpsychiatry%2Fjohn-greden-md&amp;a=John+Greden\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">John Greden<\/span><\/a><\/u>, chair emeritus, <span class=\"xn-org\">University of Michigan<\/span> Department of Psychiatry and the founder of the <span class=\"xn-org\">University of Michigan<\/span> Depression Center. Collectively, the team applies a diligent, in-depth scientific approach to portfolio company selection, evaluation and monitoring.<\/p>\n<p>&#8220;We could not be more excited about how our portfolio has shaped up, as well as its trajectory,&#8221; said Palo Santo Co-Founder <span class=\"xn-person\">Daniel Goldberg<\/span>. &#8220;This is a moment of validation for our model, and we will continue to support our thesis by backing talented founders who are creating innovative approaches to mental health and addiction treatment. At my first psychedelics conference years ago, it felt as if only the leading researchers and those &#8216;in the know&#8217; were aware that psychedelics were poised to change psychiatry forever. That&#8217;s all changing now, and with these compounds being destigmatized, medicalized, and legalized, I couldn&#8217;t think of a more impactful investment for our society.&#8221;<\/p>\n<p>Palo Santo Co-Founder <span class=\"xn-person\">Tim Schlidt<\/span>, added, &#8220;Psychedelics represent a paradigm shift in treating a range of illnesses, but a sense of scientific rigor and thoroughness is still required in investing across this ecosystem. Palo Santo applies a meticulous and selective approach to investing and heavily leverages its network of scientific advisors and academicians to evaluate opportunities. We must remember that much of the investment opportunity-set is within biotech, and therefore requires a deep focus on the science, mechanisms of action, and review of the appropriate assays or human data at each phase of drug development. With our background in healthcare and deep network in the space, Palo Santo is well-positioned as a diligent, validating investor. In addition to this, Palo Santo is providing more than just capital. We actively work to support and synergize our portfolio by connecting founders, advisers, and key opinion leaders with a collaborative ethos in mind.&#8221;<\/p>\n<p>\n        <b>About Palo Santo<br \/><\/b><br \/>\n        <u><br \/>\n          <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=2178303259&amp;u=https%3A%2F%2Fpalosanto.vc%2F&amp;a=Palo+Santo\" target=\"_blank\" rel=\"nofollow noopener\">Palo Santo<\/a><br \/>\n        <\/u>\u00a0is the leading U.S.-based psychedelic investment fund focused on increasing the supply of clinically effective and accessible mental health and addiction treatment solutions needed in today&#8217;s world. The firm targets a diverse range of companies offering innovative solutions across biopharma, drug development, digital therapeutics, healthcare services, and tech-enabled solutions to address the growing global mental health crisis. From cutting-edge science to commercial application, Palo Santo&#8217;s<u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=410635664&amp;u=https%3A%2F%2Fpalosanto.vc%2Fportfolio&amp;a=%C2%A0\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0<\/a><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1871735645&amp;u=https%3A%2F%2Fpalosanto.vc%2Fportfolio&amp;a=portfolio\" target=\"_blank\" rel=\"nofollow noopener\">portfolio<\/a><\/u> includes more than 20 companies focused on advancing the field of psychedelic medicines and expanding patient access and affordability. For more information, please visit<u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=3461021029&amp;u=https%3A%2F%2Fpalosanto.vc%2F&amp;a=%C2%A0\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0<\/a><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=1692426817&amp;u=https%3A%2F%2Fpalosanto.vc%2F&amp;a=https%3A%2F%2Fpalosanto.vc%2F\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/palosanto.vc\/<\/a><\/u> or <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3225842-1&amp;h=3235809364&amp;u=https%3A%2F%2Ftwitter.com%2FPaloSantoFund&amp;a=https%3A%2F%2Ftwitter.com%2FPaloSantoFund\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/twitter.com\/PaloSantoFund<\/a><\/u>.<\/p>\n<p>\n        <b>Media Contact:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Ellen Mellody<\/span><br \/>\n        <br \/>MATTIO Communications<br \/>570-209-2947<br \/><u><a href=\"mailto:ellen@mattio.com\" target=\"_blank\" rel=\"nofollow noopener\">ellen@mattio.com<\/a><\/u><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF41015&amp;sd=2021-07-15\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/leading-us-based-psychedelic-healthcare-vc-fund-launches-with-35-million-raised-to-tackle-the-growing-global-mental-health-crisis-301334228.html\">https:\/\/www.prnewswire.com\/news-releases\/leading-us-based-psychedelic-healthcare-vc-fund-launches-with-35-million-raised-to-tackle-the-growing-global-mental-health-crisis-301334228.html<\/a><\/p>\n<p>SOURCE  Palo Santo<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF41015&amp;Transmission_Id=202107150900PR_NEWS_USPR_____SF41015&amp;DateId=20210715\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Palo Santo&#8217;s Commitment to Help Fund a New Paradigm in Wellbeing PR Newswire CHICAGO, July 15, 2021 \/PRNewswire\/ &#8212;\u00a0Palo 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. Innovative psychedelic-based and adjacent therapies 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/leading-u-s-based-psychedelic-healthcare-vc-fund-launches-with-35-million-raised-to-tackle-the-growing-global-mental-health-crisis\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Leading U.S.-Based Psychedelic Healthcare VC Fund Launches with $35 Million Raised to Tackle the Growing Global Mental Health Crisis&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-513583","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Leading U.S.-Based Psychedelic Healthcare VC Fund Launches with $35 Million Raised to Tackle the Growing Global Mental Health Crisis - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/leading-u-s-based-psychedelic-healthcare-vc-fund-launches-with-35-million-raised-to-tackle-the-growing-global-mental-health-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leading U.S.-Based Psychedelic Healthcare VC Fund Launches with $35 Million Raised to Tackle the Growing Global Mental Health Crisis - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Palo Santo&#8217;s Commitment to Help Fund a New Paradigm in Wellbeing PR Newswire CHICAGO, July 15, 2021 \/PRNewswire\/ &#8212;\u00a0Palo 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. Innovative psychedelic-based and adjacent therapies 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. 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