You may have learned about it recently on 60 Minutes or the front page of the New York Times: the emergence of psychedelics to treat conditions like depression and addiction. Although substances such as MDMA and psilocybin are considered Schedule 1 drugs by the U.S. Food and Drug Administration, their use in treatments is being widely studied, and investors are taking notice.

One such investor, the Conscious Fund, is a venture capital firm concentrating squarely on this emerging field of medicine. Founded in part by Michael Hoyos W13, the firm has backed several companies in the space and incubated others itself, including Aphrodite Health, a self-described psychedelic medicine company “for women, by women.”

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