Emotional Intelligence Ventures, a company looking to develop a botanical approach to psychedelic medicines, announced that its Reg A has reached a milestone of $20 million.
The Hawaii-based company announced a $50 million public stock offering using the Reg A+ Framework in March. This type of offering allows retail investors and the general public (not just institutional and accredited investors) to take positions in the company before a public listing.
“I’m really passionate about democratizing investment opportunities so any investor can reap the rewards, and take all of the risks of early investment in game-changing companies,” said David Nikzad, founder and CEO of Ei.Ventures.
In August, the company announced a partnership with Tioga Research to develop a transdermal patch for sustained delivery of psilocin, the active ingredient in psilocybin mushrooms, for mental health applications.
The company also plans to launch a line of functional mushrooms, called “MANA nutraceuticals,” in early 2022.
Photo by Artur Kornakov on Unsplash
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