Mendelian Randomization analysis is a popular method to infer causal relationships between exposures and outcomes, utilizing data from genome-wide association studies (GWAS) to overcome limitations of observational research by treating genetic variants as instrumental variables. This study focuses on a specific problem setting, where causal signals may exist among a series of correlated traits, but the exposures of interest, such as biological functions or lower-dimensional latent factors that regulate the observable traits, are not directly observable. We propose a Bayesian Mendelian randomization analysis framework that allows joint analysis of the causal effects of multiple latent exposures on a disease outcome leveraging GWAS summary-level association statistics for traits co-regulated by the exposures. We conduct simulation studies to show the validity and superiority of the method in terms of type I error control and power due to a more flexible modeling framework and a more stable algorithm %in terms of compared to an alternative approach and traditional single- and multi-exposure analysis approaches not specifically designed for the problem. We have also applied the method to reveal evidence of the causal effects of psychiatric factors, including compulsive, psychotic, neurodevelopmental, and internalizing factors, on neurodegenerative, autoimmune, digestive, and cardiometabolic diseases.