What If Ventures is a venture capital firm founded in 2020, dedicated to investing in startups that address stigmatized healthcare issues, particularly in the mental health and addiction recovery sectors. The firm was established by Stephen Hays, who, after overcoming personal challenges with addiction and mental health, sought to leverage his experiences to support entrepreneurs developing solutions in these areas. Since its inception, What If Ventures has deployed over $95 million across 80 portfolio companies, with a syndicate of more than 4,100 members.

The firm's investment focus includes HealthTech, MedTech, and digital health solutions, aiming to provide affordable, accessible, and effective care to individuals worldwide. Notable portfolio companies include Alto Neuroscience, Affect Therapeutics, and HealthRhythms. What If Ventures also offers an 8-week accelerator program for digital and mental health companies, demonstrating its commitment to fostering innovation in the healthcare sector.