
Healthcare
Our healthcare system is primed for a revolution
to fix
what is broken.
We invest in the ideas that will positively disrupt how healthcare is delivered.
Why Healthcare
Fixing the US healthcare system is the single most important business problem in the world.
The US spends over $4.5 trillion annually for often disappointing outcomes, and every player—health plans, providers, patients, and caregivers—has something to complain about. We see an opportunity to translate this frustration into innovation by backing founders obsessed with building companies that win by aligning incentives around the triple aim of improving outcomes, reducing costs, and creating a more satisfying experience for patients and providers.
“Partnering with .406 Ventures has been transformative for Heartbeat Health. Liam’s uncanny ability to spot opportunities paired with Payal’s sharp questions have elevated our business in ways we couldn’t have achieved alone. The combination of strategic brilliance, industry expertise, and genuine partnership has made .406 an indispensable part of our journey—and kept us laughing (and on our toes) every step of the way.”

Jeff Wessler, MD
Founder and CEO, Heartbeat Health
Where We Invest
- Tech/tech-enabled services for enterprise healthcare
- Novel care delivery models
- Full-risk models for complex populations
The .406 Edge
We’ve seen the healthcare cycles.
When you start a conversation with us, you won’t have to explain the basics. Our 75+ years of combined experience means we can skip right to what’s special about what you’re building, why the timing makes sense, and how we can help make it work. We get to a shared vision faster.
We know what disruptive healthcare innovation looks like.
We have backed over 30 of the world’s best healthcare founders who have built companies that are now worth over $10B. We look for companies that have the potential to create or lead a category. We were Series A investors in pioneering companies like Health Dialog, the first true population health management company; Iora Health, the world’s first full-risk advanced primary care provider; and AbleTo, the first and most successful virtual behavioral health provider of its era. These companies each had unicorn+ level exits to BUPA, One Medical/Amazon, and Optum, respectively; but more importantly, they redefined the way healthcare is delivered.
Our healthcare network runs deep.
In addition to our team’s vast network, we leverage our Healthcare Council consisting of 40+ executives from leading payers, providers, and self-insured employers; 4-8 Executives in Residence at any given time; and several healthcare-oriented strategic Limited Partners. There’s no potential customer, executive, or strategic partner to whom we cannot connect you.
Mission-driven returns.
Healthcare is an industry where doing what is right ties to doing well. We have a track record of and preference for supporting mission-driven founding teams, many of which are clinician-led or led by people with lived experience. We know that organizations that build teams centered around a common mission almost always deliver better service. This leads to more satisfaction, higher quality, and better outcomes.
Sector Intersections
Healthcare x Data + AI
Data infrastructure is essential to preventative care, patient engagement, timely care delivery, and measuring value. Paired with automation and AI, it powers smarter, more efficient healthcare.
Healthcare x Cybersecurity
Critical healthcare systems and patient data require world-class protection, and we are at the forefront of the technologies that safeguard the healthcare sector from cyberattacks.
Companies
Get to know our healthcare companies
Abacus Insights

- Healthcare
- Data + AI
Abacus Insights provides a centralized, trusted data, insights, and AI platform for the healthcare ecosystem.
AbleTo

- Healthcare
AbleTo offered an evidence-based virtual mental health intervention. Acquired by Optum.
Annum Health

- Healthcare
Annum Health provided evidence-based support via teletherapy to reduce or eliminate alcohol consumption in those struggling with Alcohol Use Disorder.
AristaMD

- Healthcare
AristaMD is an eConsult platform, enabling primary care physicians to collaborate with high quality medical specialists to avoid unnecessary referrals.
Ascellus

- Healthcare
Ascellus is a national provider network of behavioral health services to the workers’ compensation and disability insurance markets.
Bend

- Healthcare
Bend HSA used advanced technologies to help optimize tax benefits and health spending through HSA accounts. Acquired by Webster Financial.
Better Life Partners

- Healthcare
Better Life Partners delivers tech-enabled medically assisted treatment programs for substance use disorder.
Bluebird Kids Health

- Healthcare
Bluebird Kids Health is a value-based pediatric platform providing high-quality, accessible, and cost-effective care for children insured by Medicaid.
ClosedLoop

- Healthcare
- Data + AI
ClosedLoop offers an end-to-end healthcare data science and AI platform to help healthcare organizations improve clinical and financial outcomes.
Our Team
Investing Team


About the Council
Staying ahead of the curve.
Our Executive Council brings together top minds across healthcare to provide key insights into where the industry is headed next.