QC·VENTURES participated with a smaller ticket in the $25 million pre-IPO capital increase round of ATAI Life Sciences AG (“ATAI”). ATAI is a German-based biotech company that invests in mental health & longevity therapeutics. The company also backs research on the use of psilocybin to treat depression – the market which is expected to reach $16 billion by 2023.
Since inception, ATAI has raised capital from a consortium of high profile and renowned investors, including an ex-Partner of Goldman Sachs Mike Novogratz (CEO of Galaxy Investment Partners) among many others, who preferred not to be named. The company will use the capital to increase particiaption in portfolio companies and finance research on the topic of longevity.
ATAI currently has a portfolio of three companies around the topic of mental health, longevity and AI-based drug development. One of them is COMPASS – the world’s leading producer of psilocybin for research – which ex-founder of PayPal, Peter Thiel, has funded.
Following the investment in ATAI, our team at QC·VENTURES took a look into a niche part of the longevity sector Food & Wellness – the CBD market. CBD is a non-psychoactive substance from cannabis and is said to provide many health benefits. The CBD and Recreational Cannabis market looks very promising. The current European market is worth over EUR 30bn and estimated to grow at EUR 60bn by 2028. Our internal analyses show that CBD is appreciated as a new functional ingredient in food & beverage, personal care and wellbeing products.