Yahoo Finance reports
Brock Pierce, the crypto billionaire, economist and philanthropist serving as chairman of the Bitcoin Foundation, has joined Jeremy Gardner’s psychedelics-focused venture fund Mystic Ventures as a general partner, Benzinga has learned exclusively.
Pierce And Gardner
Pierce, the co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether (CRYPTO: USDT) and Mastercoin, has been a long-time supporter of MAPS, the Multidisciplinary Association for Psychedelic Studies. He is also a pre-IPO investor in ATAI Life Sciences (NASDAQ: ATAI), a Germany-based clinical-stage biopharmaceutical company focused on psychedelics, and an investor in Filament Health (OTC: FLHLF), a Canada-based clinical-stage natural psychedelic development company. In other words, Pierce is no newbie to the psychedelics space.
“The industry is barely in its infancy. However, the potential reward to humanity, mental health, and those who get in on the ground floor, is immeasurable,” Pierce told Benzinga.
“I’ve been an advocate of psychedelic research for some time, and there is now overwhelming evidence of the benefits of medicines like psilocybin, ketamine, MDMA, and many others (…) for depression, anxiety and addiction,” he added.
Jeremy Gardner, the managing partner and founder of Mystic Ventures, also stems from the crypto world. He is the founder of the Blockchain Education Network, and co-founder of Augur, the world’s first Utility Token and first ICO on Ethereum.
What’s Mystic Ventures?
Mystic Ventures is an AngelList Ventures fund focused on the medicinal applications of psychedelics. It functions like a biotech venture fund, oriented towards scientific breakthroughs and new applications of promising therapeutics and plant 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 exploitive, addictive, and focused on holistic healing rather than ongoing treatment. Mystic and its portfolio companies are working to make psychedelic medicines and therapies mainstream.
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