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What If Ventures
What If Ventures is a venture capital firm based in the United States, founded in January 2020. It focuses on investing in early-stage startups that address mental health and disruptive healthcare solutions.
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Where What If Ventures ranks
| Ranking | Edition | Position | Since last edition | Trust | What it measures |
|---|---|---|---|---|---|
 Top 50 Startup Accelerators, Ranked by Exit Rate | 2026 | #38 | No prior edition | C | Performance |
Overview
What If Ventures is a venture capital firm founded in January 2020 by Stephen Hays. The organization is based in the United States and focuses on investing in startups that address mental health and disruptive healthcare solutions. They invest in early-stage startups primarily within the mental health and healthcare sectors, employing a stage-agnostic investment strategy with flexible check sizes. Since its inception, What If Ventures has invested over $100 million in more than 85 startups, including notable companies like Alto Neuroscience and Atai Life Sciences. The firm also runs the What If Fellowship, an 8-week accelerator program for founders in the mental health space, and publishes a weekly newsletter titled Disruptive Healthcare Valuation Report.
Focus
What If Ventures invests in sectors related to healthcare, particularly mental health, and defense technology. The firm is stage-agnostic, providing flexible check sizes to startups at various stages of development.
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