Venture capital fund Phyto Partners, LLC, announced today the launch of its fourth private equity fund, called Phyto IV, LP, focused on businesses that operate around neurowellness and brain health, as well as the therapeutic use of psychedelic compounds. For the management of the new fund, Phyto has partnered with Ambria Capital, LLC.
Larry Schnurmacher, a managing partner of Phyto Partners, commented: “The neurowellness sector has become one of the fastest-growing and largest markets to emerge in decades, and current regulatory hurdles have created an early-stage funding gap for companies uniquely poised for considerable growth.” He added that “we are early, perhaps very early, but we believe the neurowellness space may develop and unfold much quicker than the cannabis market.”
Cody Shandraw, managing partner at Ambria, said they were looking forward to growth potential.
“As early pioneers in the psychedelics space, we are naturally excited for the tremendous growth potential, but more importantly, we are grateful to be playing a role in the development of new forms of medicine with real promise to benefit people's lives. As more people begin to realize the possibilities within neurowellness, we believe awareness will continue to swell, driving normalization and further industry growth,” Shandraw concluded.
