Stephen Hays

Stephen Hays is the founder and managing partner of What If Ventures, a venture capital firm established in January 2020 that focuses on investing in mental health and disruptive healthcare startups. Under his leadership, the firm has invested over $85 million in 73 companies, leveraging a syndicate of more than 4,100 investors. Notably, What If Ventures has seen three portfolio companies exit via IPO and one through acquisition.12

Hays' personal journey significantly influences his professional focus. He has struggled with addiction and bipolar disorder, experiences that led to a transformative recovery supported by his family and the recovery community. This background inspired him to dedicate his investment efforts to startups that provide solutions for mental health and addiction recovery.14

Before founding What If Ventures, Hays was the founder and managing partner of Deep Space Ventures, where he led investments in early-stage tech startups. He also spent over six years as an investment banker on Wall Street, primarily involved in capital raising and mergers and acquisitions.234

Hays holds a degree in Civil Engineering from West Point and an MBA from Vanderbilt University. He resides in Frisco, Texas, with his wife and three children.12 In addition to his venture work, he hosts a podcast called "Stigma," which addresses mental health and wellness topics through conversations with various leaders and entrepreneurs.13