Brock Pierce, crypto billionaire, economist and philanthropist who is the chairman of the Bitcoin Foundation, have participated Jeremy Gardner psychedelics– focus on venture capital Mystic Ventures as a general partner, Gasoline have studied exclusively.
Pierce and Gardner
Pierce, co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether (CRYPTO: USD) and mastercoin, has been a long time supporter of MAPS, Multidisciplinary Association for Psychedelic Studies. He is also a pre-IPO investor in ATAI Life Sciences (NASDAQ: ATAY), a German-based clinical-stage biopharmaceutical company focused on psychedelics, and an investor in Filament Health (OTC: FLHLF), a Canadian-based clinical-stage natural psychedelic development company. In other words, Pierce is no stranger to the psychedelics space.
“This industry is still in its infancy. However, the potential rewards for humanity, for mental health, and for those who get in on the ground floor, are immeasurable,” Pierce told Benzinga.
“I have been an advocate of psychedelic research for some time, and now there is a lot of evidence of the benefits of drugs like psilocybin, ketamine, MDMA, and many others (…) for depression, anxiety and addiction,” he added.
Jeremy Gardner, managing partner and founder of Mystic Ventures, also comes from the crypto world. He is the founder of Blockchain Education Network, and co-founder of blade, The world’s first Utility Token and first ICO on Ethereum.
What is Mystic Ventures?
Mystic Ventures is independent AngelList Ventures funds focused on the medicinal application of psychedelics. It functions like a funds biotechnology ventures, targeting scientific breakthroughs and new applications in plant therapies and medicines.
Mystic is dedicated to driving these advanced research and development teams, often from pharmaceutical companies and top research universities, to develop cost-effective solutions that are less exploitative, addictive, and focused on holistic healing rather than continuous treatment. Mystic and his portfolio companies work to make psychedelic drugs and mainstream therapies.
“The investment opportunities in terms of growth potential are probably higher than in other emerging markets,” Pierce told Benzinga.
Mystic Ventures is a drop-in fund at AngelList Ventures. It is a standard 2:20 (management/doing) with a $25,000 minimum quarterly ticket size for an 8 quarter commitment.
The fund’s investments range from AI-powered drug discovery to the development of new treatments, as well as far-flung startups such as breathing apps and biofeedback haptic sound startups.
“We have identified leaders on the ground who are paving the way in this noble battle for mental health and expanding human consciousness,” Pierce said.
And he added, “There are only 49 subscription places left in the fund, and we expect the remaining places to be filled quickly after our partnership is announced during Jeremy’s keynote, which I will join at Microdose, the main psychedelic conference held in Miami. “
Change Has Arrived
In a conversation with Benzinga, the blockchain pioneer assured that changes are coming when it comes to psychedelic drugs.
“We are now seeing the scales fall from the eyes of regulators and the health industry as legalization and decriminalization appear on the horizon. Joe Biden signaled this month that marijuana will be rescheduled, and there is strong evidence to believe that MDMA and psilocybin will continue,” said Pierce.
“America is experiencing an unprecedented opioid epidemic. Psychedelic therapy offers a solution to this ongoing crisis by helping people heal and recover from addiction and underlying mental health issues,” he said.
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