His experience inspired him to focus his investment firm on backing psychedelic startups.
But VCs, including Smith, are still betting big on startups in the space that seem especially promising.
It wasn't until he tried psychedelics — including Ayahuasca, a plant-derived hallucinogenic drink, and iboga, an African root bark — that his mental health finally improved.
Energized by his own experience, Smith reworked his cannabis-focused VC firm Ultranative into a one-stop-shop for psychedelic startups.
Smith and Ultranative are far from the only investors pumping money into psychedelic startups.
Persons:
Ford Smith, wean, South America —, Ayahuasca, Ultranative, Smith, didn't, Lyme, psychedelics, Rick Doblin, he's
Organizations:
innovating, Venture, Anonymous, Multidisciplinary Association for Psychedelic Studies, pharma, FDA, PsyMed Ventures, Lionheart Ventures, Iter Investments, Neo Kuma Ventures, Therapeutics
Locations:
Austin, South America, U.S, Oregon, Colorado, psychedelics, Texas, Los Angeles, Massachusetts