Bail Capital

Overview

Bail Capital is a venture capital firm based in Santa Monica, California, specializing in early-stage investments within the healthcare and technology sectors. The firm is led by Managing General Partner James Bailey, who has a decade-long track record of backing companies in emerging, stigmatized markets such as cannabis, nicotine, and psychedelics. Notable investments include JUUL, PAX, Compass Pathways, MindMed, Mindbloom, and Kiva. Bailey's expertise lies in transforming stigmatized sectors into category-defining businesses by identifying opportunities where others perceive risk. General Partner Michael Cam-Phung brings two decades of investment and operating experience, having previously served as Chief Strategy Officer at Seisa Medical. There, he led M&A and corporate development, driving the company through multiple acquisitions and a successful multi-hundred million dollar exit. Prior to Seisa, Michael was a Principal at Highland Consumer Partners, where he sourced, structured, and managed growth-stage investments across consumer and healthcare verticals. His background also includes investment banking at William Blair and BMO Capital. General Partner Brent Cox has deep experience across private equity, structured finance, and distressed investing. He spent nearly a decade at The Yucaipa Companies, leading investments and restructurings in sectors including logistics, real estate, and consumer. His deal work ranged from the $400M leveraged buyout of Soho House to the $2.2B restructuring of Eimskipafelag Islands. Brent began his finance career at Jefferies in the Leveraged Finance and Financial Sponsors Group, where he helped close over $2B in debt transactions. Bail Capital's portfolio includes companies such as Lykos Therapeutics, Delix Therapeutics, Beckley Psytech, Cybin, and atai Life Sciences. The firm has made five investments, with the most recent being in Lykos Therapeutics on January 5, 2024. Notable exits include Cybin, Beckley Psytech, and atai Life Sciences. Bail Capital's investment strategy focuses on supporting category-leading founders navigating complex, regulated markets, with a particular emphasis on therapeutics, medical devices, and functional consumer products.

Investment Focus

• Focus on early-stage companies
• Emphasis on healthcare and technology sectors
• Interest in emerging, stigmatized markets such as cannabis, nicotine, and psychedelics
• Preference for companies with strong founder leadership
• Willingness to navigate complex, regulated markets

Portfolio Companies