Healthcare Thesis:

We invest in network-sourced, U.S.-based, early-growth digital healthcare technology companies that improve patient outcomes and reduce costs. We focus on a small, clearly defined niche, excelling by doing only what we know best and by having built the infrastructure to support it.

Why Healthcare?

4D Capital’s investment focus and expertise are directed toward healthcare, a sector representing approximately ~17-20% of the U.S. GDP (CMS). National healthcare expenditures reached ~$5 trillion in 2024 and are projected to grow to ~$7.7 trillion by 2032 (CMS), making it one of the largest and fastest-growing sectors on the planet.

Healthcare has consistently outperformed other industries during periods of economic uncertainty due to its non-cyclical nature. The S&P 500 Healthcare Index has repeatedly outperformed the broader S&P 500 during major downturns—including the 2000 dot-com bubble, the 2008 financial crisis, and the 2022 inflationary environment—underscoring the sector’s defensive strength and long-term resilience.

With the perpetual demand for healthcare services and continuous government funding, our strategy centers on digital technologies tailored for this industry. These investments have proven to drive significant investor returns, enhance accessibility to healthcare, reduce costs, and improve patient outcomes.

Why Now?

While healthcare’s size and resilience make it a compelling long-term investment, the current moment represents a rare inflection point for outsized returns. Healthcare is transforming profoundly, fueled by a convergence of innovation and necessity. Trends such as the rise of telemedicine, remote patient monitoring, data analytics, AI-driven clinical decision-making, personalized medicine, genomics, and a shift from reactive to proactive care are reshaping the industry's future. These developments are not only improving outcomes and reducing costs—they’re also expanding the addressable market for healthtech investors.

Since COVID-19, telehealth has seen 38x growth (McKinsey), and digital health is projected to reach ~$1.5 trillion by 2030 with a 16.5% CAGR (Grand View Research)—an indicator of just how rapidly new care models and technologies are being adopted across the ecosystem.

Several structural drivers are accelerating this growth. Roughly 60% of U.S. adults live with at least one chronic condition (CDC), creating sustained demand for care and continuous engagement solutions. The aging population is another key force, with 1 in 5 Americans projected to be over the age of 65 by 2030 (U.S. Census)—a demographic shift that will dramatically expand the need for healthcare services, long-term care, and age-appropriate technology.

At the same time, the healthcare workforce is expected to add 2.6 million new jobs by 2032 (BLS), highlighting not only the scale of the sector but also its role in driving broader economic growth. Payment models are also evolving: 40% of U.S. healthcare payments were value-based as of 2022 (HCPLAN), accelerating demand for platforms that improve quality, lower costs, and support outcomes-based care delivery. And as costs continue to rise—with the average annual family health insurance premium reaching $22,463 in 2022, up 4% from the prior year (KFF)—the need for scalable, tech-driven efficiency has never been more urgent.

Situated in Texas, surrounded by some of the world’s leading healthcare technology builders, thought leaders, academic institutions, and innovation hubs, 4D Capital is uniquely positioned to identify and capitalize on emerging trends and breakthroughs in healthtech.