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Fortune
Fortune
Allie Garfinkle

Kevin Ryan’s AlleyCorp raises new $335 million fund, all in on early-stage bets

(Credit: AlleyCorp)

Kevin Ryan knows how to change his mind.

Consider psychedelics: Ryan—often called “the Godfather of NYC Tech”—was once skeptical that psychedelics could be viable treatments for depression or PTSD. But in 2018, he read Michael Pollan’s How to Change Your Mind and encountered a wave of data. Now, he’s a key backer of the Yale Center for Psychedelic Research and cofounded Transcend Therapeutics, a psychoactive drug maker that sold in June for $1.2 billion.

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