Michael Hoyos - Co-Founder and Partner, The Conscious Fund (TCF)
Co-Founding Partner at TCF, Michael previously founded Kensho Ventures, an advisory firm supporting ultra-high net worth SFOs, and before that helped build McCombie Groups’ PE practice. He began his career at JPMorgan serving on banking teams managing over $12 billion. MBA - Chicago Booth; BS (cum laude) - The Wharton School, UPenn.
What is the most rewarding aspect of your role?
The most rewarding aspect of my role would have to be with respect to helping our portfolio and incubated projects meet their goals and objectives. Once we decide to finance a specific project it’s critical that we understand exactly what the next steps are such that we hit the ground running. Any gaps in the leadership team need to be filled while ensuring the short term goals are in line with the long term objectives.
What is the most challenging aspect of your role?
The most challenging part of my role would have to be determining which projects are eligible for financing. Once our basic due diligence process has been completed, at the VC stage, it really boils down to how well we can get to know and understand the founders. Since there is not much operating or financial history at this stage it’s important, but often challenging, to get a read on specific individuals to assess whether or not they truly understand exactly the marketplace they’re looking to disrupt and how. In some ways, many aspects of the job end up becoming more of an art than a science.
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“....the stigma around psychedelics is being quickly eroded and perhaps even more encouraging is the fact that these therapies are receiving support from across the political spectrum.”
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What makes your firm stand out?
What are three areas of focus for your firm this year?
2. We prefer to work with balanced teams with strong track records of success, consisting of technical founders with deep subject matter expertise in their respective fields and non-technical founders with robust finance, operations, and management experience in similar ventures.
How have recent legislative changes affected your firm?
While the ultimate success of the psychedelic medicine industry is agnostic to fundamental shifts in regulatory frameworks, we are really excited by the recent legislative changes that are taking place around the world with respect to psychedelic medicine. These changes are showcasing that the stigma around psychedelics is being quickly eroded and perhaps even more encouraging is the fact that these therapies are receiving support from across the political spectrum. This really drives home the point that what we are witnessing is not just some passing fad, it’s a true game-changing movement with the power to potentially help billions of people.
How would your colleagues describe you in three words?
Driven, empathetic, honest.
What non-fiction book would you recommend?
Stealing Fire: How Silicon Valley, the Navy SEALs, and Maverick Scientists Are Revolutionizing the Way We Live and Work by Steven Kotler and Jamie Wheal.
It’s a really interesting book about how non-ordinary states of consciousness serve as a common theme and fundamental catalyst for some of the highest performing humans on the planet. The authors even reference psychedelics as one of the tools for achieving this peak performance state and include anecdotal references ranging from the Ancient Greeks to modern-day Navy SEALs. Really cool stuff.
About The Conscious Fund (TCF)
The Conscious Fund is the most active early-stage venture fund in the psychedelic medicine space. It invests in drug discovery, clinics, addiction programs, retreats, AI, telemedicine, media and training. Its global, platform-based approach helps to transform outcomes for patients with mental health, addiction and chronic pain issues.
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