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Phyto Partners company logo
Venture Capital
phytopartners.com

Investments

33

Portfolio Exits

3

Funds

5

About Phyto Partners

Phyto Partners is a venture capital fund that invests in businesses that operate in and around the cannabis industry.

Headquarters Location

2080 NW Boca Raton Blvd Suite 6

Boca Raton, Florida, 33431,

United States

561-542-6090

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Latest Phyto Partners News

Psychedelic Treatments Are The Focus Of Investors Pursuing New REIT

Mar 27, 2023

The medical treatment Cody Shandraw and Ty Zakovich want to build a property empire around isn’t even legal in the United States yet, but they’re not waiting around to stake a claim on what they think is the future of healthcare real estate . Science is showing the benefits of MDMA in the treatment of mental health disorders. Zakovich and Shandraw are the co-founders of Healing REIT, a real estate investment firm with a focus on buying and renovating clinical space for practitioners looking to dive into the world of MDMA psychological treatments. Their plan is to seek approval from the New York Stock Exchange to be traded as a real estate investment trust by later this year. Their bet is a bold one, particularly because treatment with MDMA — the pure version of the drug commonly referred to as ecstasy or Molly — is still illegal in the United States. But approval for its use treating mental health conditions, which could happen as soon as next year, is working its way through the Food and Drug Administration . Zakovich, Healing REIT's CEO, and Shandraw, its president, say as soon as the treatment gets approved, they have a list of clients ready to sign up to lease clinical space from Healing REIT. “Everybody is talking about the drug, but no one is talking about where the drug is going to be delivered,” Shandraw told Bisnow during a recent interview. Zakovich is also a principal of California-based CRE asset management and debt firm TGP Ventures, and Shandraw, who describes himself as a “serial entrepreneur,” invests in the medical psychedelic space through Ambria Capital and the venture fund Phyto Partners. The duo has a third partner, Chief Operating Officer Daniel Carcillo, a former National Hockey League professional and two-time Stanley Cup winner who played with the Chicago Blackhawks and the New York Rangers . Since his retirement at age 30, Carcillo had become an advocate for those with traumatic brain injuries and the use of psilocybin in their treatment for the symptoms of brain injuries. Carcillo also is CEO of Wesana Health, a firm focused on creating treatments for TBI and other mental health disorders. Shandraw said his Phyto fund gave Healing REIT an initial $250K in capital this year, and Zakovich said the firm raised an additional $1M in seed money from outside investors this month. They told Bisnow they are in negotiations to buy their first building, a clinic in Brooklyn, New York. Shandraw said they have identified a pipeline of $47M in real estate acquisitions throughout the country that would make up Healing REIT’s initial portfolio. The buildings are largely existing single-story office buildings or condominiums between 2K and 5K SF. Zakovich said Healing is targeting properties within 5 miles of the nation’s top U.S. Department of Veterans Affairs hospitals, including in Palo Alto, Los Angeles and San Diego, California, Ann Arbor, Michigan, Boston, Northern Florida and Southern Georgia, where medical practices already exist to help veterans suffering from post-traumatic stress disorder. “These are single buildings or single office condos that typically already had a medical use before,” Shandraw said. MDMA is a psychedelic that is increasingly being studied and used to treat psychological disorders as a  more effective alternative to already-approved therapies. The drug works by increasing the output of seratonin and dopamine, which can elevate mood, behavior, thoughts and energy, according to Healthline . The drug was actually legal in the U.S. until 1984, when the Drug Enforcement Agency declared it a  Schedule 1 substance , which made it illegal to take, despite some psychologists finding benefits for its use for mental health disorders in the years prior. Along with MDMA, psilocybin — the active ingredient in what are commonly known as "magic mushrooms" — is under final safety evaluations with the FDA, and could get a green light for medical use by next year, The Intercept reported . “One big reason that we’re looking at psychedelics is because our traditional treatments don’t work,” said Amy Morin, a licensed psychotherapist, author and editor-in-chief of Verywell Mind. “People are making new connections with the synapses in the brain. And when they come out of their trip, those things are permanent.” The use of psychedelics for medical therapies is already impacting the healthcare real estate market.

Phyto Partners Investments

33 Investments

Phyto Partners has made 33 investments. Their latest investment was in Healing Maps as part of their Seed VC on September 9, 2022.

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Phyto Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/15/2022

Seed VC

Healing Maps

$1M

Yes

Ambria Capital, and Undisclosed Investors

3

8/8/2022

Series C

Muse

$9.5M

Yes

7

2/24/2022

Series A

Willow Industries

$2M

Yes

2

1/13/2022

Series B

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$99M

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10

11/8/2021

Series C

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$99M

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10

Date

9/15/2022

8/8/2022

2/24/2022

1/13/2022

11/8/2021

Round

Seed VC

Series C

Series A

Series B

Series C

Company

Healing Maps

Muse

Willow Industries

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Amount

$1M

$9.5M

$2M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Ambria Capital, and Undisclosed Investors

Sources

3

7

2

10

10

Phyto Partners Portfolio Exits

3 Portfolio Exits

Phyto Partners has 3 portfolio exits. Their latest portfolio exit was Steep Hill on January 31, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/31/2022

Acquired

$99M

1

1/17/2020

Acquired - II

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$99M

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10

5/15/2018

Merger

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$99M

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10

Date

1/31/2022

1/17/2020

5/15/2018

Exit

Acquired

Acquired - II

Merger

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

Phyto Partners Fund History

5 Fund Histories

Phyto Partners has 5 funds, including Phyto Partners II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/17/2018

Phyto Partners II

Multi-Stage Venture Capital

Closed

$2M

1

6/7/2018

Phyto II

$99M

10

6/23/2015

Phyto Partners I

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$99M

10

Phyto III

$99M

10

Phyto Partners III

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10

Closing Date

7/17/2018

6/7/2018

6/23/2015

Fund

Phyto Partners II

Phyto II

Phyto Partners I

Phyto III

Phyto Partners III

Fund Type

Multi-Stage Venture Capital

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Status

Closed

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Amount

$2M

$99M

$99M

$99M

Sources

1

10

10

10

10

Phyto Partners Team

3 Team Members

Phyto Partners has 3 team members, including current Managing Partner, Larry Schnurmacher.

Name

Work History

Title

Status

Larry Schnurmacher

Managing Partner

Current

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Name

Larry Schnurmacher

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Work History

Title

Managing Partner

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Status

Current

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