The 3 most powerful psychedelics VCs dish on what they look for — and avoid — when investing in new companies
, said he looks at all the standard things — optionality, management, resources available to the company, etc. — but added that he really tried to dig into how well the founders know their business and the industry.
After looking at hundreds of company presentations, Shah said he found it surprising how many founders set up a business in an industry that they know very little about. Then, he said, he defines the area he wants to look at and invests in specific companies in the subsector that would fit well into Noetic's larger portfolio, as well as within the larger psychedelics industry. An easy red flag to spot, according to Shah, is obvious lack of knowledge of the space. Those guys are easy to rule out, he said.
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