- Negev Capital is an early stage VC fund.
- Negev Capital invests in companies that develop novel drugs for neuropsychiatric disorders, based on psychedelic compounds.
- 40% of total capital has been deployed into 20 companies.
Toronto, Ontario--(Newsfile Corp. - January 17, 2022) - Negev Capital, a psychedelic medical intervention investment fund, today announced the final close of its investment vehicle, "Fund One" at US$30 million of fully contributed capital, thanks to the strong support from Negev's existing limited partner base and new investors. Negev Capital has been active in deploying Fund One to-date, with 40% of total capital allocated into 20 startups.
Negev Capital continues to invest in pre-clinical and Phase 1-stage companies that develop drugs based on psychedelic compounds for neuropsychiatric disorders. Initial equity checks range from $500,000 to $2,000,000 per company; additional funds are reserved for follow-on rounds.
"We will continue to execute our strategy of supporting those early stage companies that promote the thoughtful, responsible, therapeutic use of psychedelic medication for neuropsychiatric disorders, and who further have excellent management and scientific teams, solid IP, and an ethical vision for such development. We are committed to helping this field mature in a way that provides the public with widely available and carefully studied treatments,'' said Stuart Seidman, Partner at Negev Capital.
Negev Capital's Partner, Ken Belotsky added: "We saw full subscription well ahead of expected timelines. We are well-positioned to capitalize on our firm's history of sourcing, structuring and executing investments across the psychedelic medicine capital structure. We are encouraged by the early investment activity in the Fund by a large LP base and expect to take advantage of market dislocations and opportunities that are unfolding in areas where we have developed expertise."
The Fund has been actively working on new pipelines and sharing unique opportunities with co-investors, including other investment funds.
About Negev Capital
Negev Capital is a psychedelic medical intervention investment fund with assets of USD$30+ million. We invest in drug discovery, with a focus on preclinical and/or Phase 1 stages of development. We aim to support those early stage companies in need of capital that promote the thoughtful, responsible, medical use of psychedelic medication for psychiatric disorders, and who have excellent management and science teams, and solid IP.
We believe that psychedelic medications will be not only disruptive to the practice of psychiatry, but hold the potential to reduce enormous amounts of human suffering, and we are committed to helping the field mature, and further promote ways for these treatments to reach all of those in need.
For further information, please visit https://negevcap.com/.