Palo Santo’s Co-founder and Partner Tim Schlidt talks about the ways this psychedelic investment chooses its companies. While psychedelics are a hot emerging market, Schlidt compares it to more traditional bio-tech. The horizon for investments is much longer than it is in the cannabis industry. Palo Santo is a privately-owned biotech investing firm with a focus on psychedelic drug companies. It has raised over $35 million and invested in over 20 companies.