Google co-founder Sergey Brin supports the development of a hallucinogen derived from a rainforest shrub for the treatment of mental illnesses. This marks the latest involvement from Silicon Valley in the emerging psychedelics sector.

Catalyst4, a nonprofit investment vehicle founded with proceeds from Brin's Tesla sale in 2021, has committed to taking on around $15 million of a $25 million funding round for the psychedelic startup Soneira. The biotech company plans clinical trials to investigate Ibogaine, a shrub from West Africa, as a treatment for traumatic brain injuries (TBI).

Ibogaine, traditionally used in spiritual rituals by forest dwellers in Gabon, has recently gained significance among Western psychedelic advocates and mental health researchers. Earlier this year, a Stanford University study funded by Brin's foundation found that Ibogaine therapy improved mental health and cognitive function in 30 US military veterans with TBI.

Soneira, advised by Stanford psychiatrist Nolan Williams, who was involved in the study, is investigating how ibogaine can be combined with heart medications to reduce the risk of fatal heart arrhythmias. In addition, the company is working on developing a synthetic version of the compound. With the funding, Soneira plans to initiate early clinical trials.

The interest of Brin's vehicle, founded in 2021, is another example of Silicon Valley's enthusiasm for psychedelics – both for personal use and as an investment. Catalyst4 was founded with the proceeds from Brin's sale of his entire Tesla stake, amounting to 366 million USD.

Tesla founder Elon Musk publicly spoke about his use of ketamine to treat depression, and billionaire and tech investor Peter Thiel was an early supporter of Atai Life Sciences, a biotech company researching psychedelic treatments for mental illnesses and also investigating ibogaine for treating opioid addiction.

According to PitchBook data, almost $180 million has been invested by venture capitalists in psychedelic biotech companies this year. Investment in this sector hit a record high of $528 million in 2021.

Through the Sergey Brin Family Foundation, the Google co-founder has invested hundreds of millions of dollars in research on neurodegenerative and psychological diseases. Brin, according to Forbes the seventh richest person in the world, discovered in 2004 that he has a genetic mutation that increases his risk for Parkinson's.

Catalyst4, which had total assets of $430 million at the end of 2022, is tasked with investing in groundbreaking treatments for neurological disorders and technologies to mitigate climate change. A member of the Catalyst4 board also works for Brin's family office, Bayshore Global Management, one of the largest family offices globally with assets of at least $100 billion.

Approximately Half a Dozen Other Parties Have Also Discussed Investments in Soneira, Including Helena Special Investments and Digital Health Investor LifeForce Capital. Soneira's Funding Round is Expected to Be Completed After the Summer.

Soneira and Helena declined to comment. Catalyst4 and LifeForce did not respond to requests for comment.