VC Playbook: Health & Wellness is the New Tech Boom—Here’s Why
The $9 Trillion Opportunity Reshaping Health and Longevity
The health and wellness economy is reshaping how we approach health, longevity, and performance. For investors, the opportunity lies in the infrastructure and innovations driving biotech, mental health, precision medicine, and more. Accessing this fast-evolving market demands early positioning, insider networks, and bold conviction.
A powerful countertrend is emerging in a world shaped by technology and automation — the human-centered pursuit of health and longevity. This shift transcends fad diets and mindfulness apps, reflecting a deeper movement reshaping how leaders, high performers, and consumers invest in well-being. From elite wellness clubs to breakthrough pharmaceuticals, the wellness economy is evolving into a multi-trillion-dollar force, projected to reach $9 trillion by 2028.
Health is the new status symbol. In New York, the hottest date isn’t at a club — it’s at Bathhouse for hot and cold plunges. The next wave of executives isn’t chasing nightlife or legacy social clubs; they’re investing in wellness sanctuaries like The Estate, paying $35,000 yearly for curated health experiences. This isn’t about indulgence — it’s health optimization, resilience, and peak performance. Health has become the ultimate status symbol. In New York, the trendiest date spot isn’t a nightclub — it’s Bathhouse, where couples indulge in hot and cold plunges. The next generation of executives isn’t flocking to legacy social clubs or nightlife; they’re investing in high-end wellness destinations like The Estate, which promises cutting-edge health optimization and longevity services. These sanctuaries redefine luxury, shifting from indulgence to resilience and peak performance, with annual memberships poised to rival or exceed the $10,000-a-month Continuum Club in Manhattan.
For venture capitalists, this represents more than a lifestyle shift—it signals the birth of a vast market merging technology, consumer behavior, and healthcare. From biotech to fitness tech, mental health platforms to non-alcoholic beverages, health optimization is infiltrating every segment of the economy. As consumer demand accelerates, healthcare incumbents are being disrupted, and new markets are rapidly emerging.
At Alumni Ventures, we’ve positioned ourselves at the forefront of this shift. Our core funds span the full healthcare and wellness value chain, while our Sports and Healthtech Funds focus on AI-driven healthcare and administration, biotech, human performance, and longevity. This isn’t a passing trend — it’s the foundation for the next wave of transformative, high-return investments.
Below, we’ll explore the drivers fueling this growth and how investors can capitalize on the surging demand for holistic well-being. We’ll highlight the intersection of technology, health, and culture, demonstrating how this shift is redefining industries and creating opportunities across the value chain.
The Rise of the Wellness Economy
Not Just a Trend, But a Global Shift
The $6 trillion wellness economy is rapidly outpacing global GDP growth, signaling more than just a fleeting trend — it reflects a fundamental shift in consumer priorities. The COVID-19 pandemic served as a catalyst, accelerating the focus on mental and physical health as consumers took proactive steps to safeguard their well-being. This movement transcends traditional healthcare, driving growth across pharmaceuticals, fitness technology, and mental health platforms. As technology continues to reshape industries at large, there is a parallel rise in demand for “human-centric” growth — solutions that prioritize resilience, longevity, and emotional well-being. The faster technology advances, the more individuals seek to cultivate what makes them innately human.
The numbers underscore the magnitude of this shift. The global mental health market is projected to surpass $500 billion by 2029, while fitness services are expected to surpass $600 billion by 2030, driven by a 9.8% compound annual growth rate (CAGR). Meanwhile, the nutritional food sector is on track to grow from $5.9 billion to $12.6 billion by the end of the decade, and the corporate wellness market is set to double, climbing from $70 billion in 2022 to $146 billion by 2033. This surge reflects a broader recognition that health and wellness are no longer personal luxuries — they are economic drivers reshaping industries and opening new investment frontiers.
The Growing Need for “Human-Ness”
As technology becomes more integrated into every facet of life, a countermovement is emerging — one that prioritizes connection, authenticity, and personal growth. While the pandemic accelerated digital adoption, it also ignited the desire for in-person experiences, physical well-being, and mental resilience. In a world dominated by automation and screens, people are seeking balance through wellness, mindfulness, and social rituals that ground them in genuine human experiences.
For investors, this shadow trend represents more than cultural nostalgia; it signals burgeoning market forces reshaping industries from mental health to nutrition and fitness. The demand for products and services that foster emotional well-being, personal transformation, and community is accelerating whether it’s immersive mindfulness retreats, AI-driven therapy platforms with human-like empathy, or nutrition brands emphasizing ritual and shared experiences, these innovations align with the rise of the Bespoke Economy, where personalization and authenticity drive consumer behavior. In health and wellness, this translates into high-growth sectors that tap into deep human desires to feel healthier, live longer, and connect more meaningfully.
The market is signaling loud and clear — health isn’t just physical or mental, it’s deeply personal. And as this shift continues, investors who recognize and respond to these opportunities will help shape a more human-centric, tech-enabled future.
Why The Wellness Economy Matters for Investors
The rise of the health and wellness economy signals a profound shift, creating expansive opportunities at the intersection of healthcare, technology, and consumer behavior — reminiscent of the early days of fintech and media disruption. With the sector projected to reach $9 trillion by 2028, growing at 7.3% annually (Global Wellness Institute, 2024), it stands as one of the fastest-growing global markets. This isn’t just a consumer trend; it represents a fundamental reshaping of how individuals and institutions prioritize health, longevity, and performance.
For venture investors, this isn’t about lifestyle brands or boutique fitness chains — it’s about investing in the infrastructure, technology, and science fueling this transformation. The winners won’t just sell wellness; they’ll embed optimization and resilience across sectors such as biotech, mental health, precision medicine, and functional nutrition. The potential returns? Comparable with the early tech boom.
But here’s the challenge, gaining access to these markets requires insider networks, early positioning, and conviction. The rounds are tight, the windows narrow, and the best deals are often under the radar. For those who get in early, the opportunity to lead and define this next frontier is wide open.
Key Health & Wellness Growth Fueling Growth in 2024
Longevity as the New Status Symbol
Health has become the new status symbol, with longevity and performance optimization emerging as ultimate markers of success. High performers, executives, and cultural leaders are shifting their focus from material wealth to physical resilience, mental clarity, and life extension. The longevity market is forecast to reach $27 trillion by 2026, driven by rising demand for precision diagnostics, elite recovery services, and biohacking solutions. Exclusive wellness sanctuaries like The Estate and Continuum Club, with memberships exceeding $10,000 annually, are thriving by offering more than indulgence—they provide access to cutting-edge health technologies, personalized therapies, and curated networks of high achievers who view health as a strategic investment in sustained peak performance.
For venture investors, this shift creates expansive opportunities in platforms that cater to executive performance, regenerative medicine, and personalized health optimization. As leaders publicly embrace the connection between personal well-being and professional success, the market for longevity-focused startups and recovery platforms is rapidly expanding into mainstream healthcare.
Health has become the new status symbol, with longevity and performance optimization emerging as ultimate markers of success.
Post-pandemic, consumers are more proactive, health-literate, and discerning. They demand solutions that are accessible, tech-enabled, and backed by science — whether it’s a wearable that tracks heartrate variability or a high-tech beverage with functional ingredients.
2. The Rise of Functional Beverages: A Sobering Trend
Parallel to this trend is the decline of alcohol consumption, particularly among Gen Zers, who drink ~20% less than previous generations. This shift isn’t driven solely by sobriety but by a deeper focus on mental clarity, energy, and overall wellness. A staggering 65% of adults under 35 view alcohol as unhealthy, underscoring health concerns as a driving force behind reduced consumption trends. As a result, the functional beverage market is projected to reach ~$340 billion by 2030, encompassing nootropic-infused drinks, adaptogenic mocktails, and CBD-enhanced products that replace traditional alcohol in home and social settings.
This presents a lucrative opening for functional beverage brands, alcohol-free spirits, and mood-enhancing drink companies that are redefining how consumers unwind and celebrate. The evolution of social rituals away from intoxication and toward wellness offers VCs a compelling opportunity to invest in the next generation of social drinking alternatives aligned with the broader wellness movement.
3. GLP-1 Drugs: The Next Blockbuster in Health?
Nowhere is the shift toward health optimization more apparent than in the meteoric rise of GLP-1 therapies, originally developed for diabetes but now driving breakthroughs in obesity and metabolic health. The GLP-1 market is projected to surpass $150 billion by 2030, fueled by growing adoption rates and expanding indications. Analysts estimate that 22% of U.S. adults could be using GLP-1s for weight management in the coming decade, positioning this sector as one of the most transformative in modern healthcare.
Yet, the real value lies in the ecosystem surrounding GLP-1s. From digital health platforms monitoring metabolic progress to AI-powered nutrition coaching and telehealth services, the ancillary market is exploding. Venture investors are not only targeting pharmaceutical giants but also supporting early-stage startups developing metabolic diagnostics, continuous health tracking, and personalized treatment platforms that extend beyond the prescription pad.
4. Artificial Intelligence: The Catalyst for Personalized and Efficient Healthcare
As AI and automation transform industries, healthcare is emerging as a prime frontier for disruption. The convergence of AI, data analytics, and personalized care is driving rapid growth across diagnostics, mental health, and preventative health platforms. This shift reflects a global demand for customized, scalable, and empathetic healthcare solutions that enhance, rather than replace, human interaction. The AI healthcare market is projected to reach $187 billion by 2030, with mental health platforms expected to grow at 36% annually. Startups delivering AI-powered diagnostics, digital therapeutics, and adaptive fitness platforms are at the forefront, offering investors opportunities to capitalize on a market experiencing explosive demand.
Beyond patient care, AI is streamlining the administrative backbone of healthcare, addressing inefficiencies that cost the U.S. over $500 billion annually. Companies leveraging AI to automate billing, claims, and hospital workflows are driving significant savings while improving outcomes. This dual opportunity — enhancing patient experiences and reducing operational drag — positions AI healthcare platforms as essential infrastructure for the future of global health. Investors who back end-to-end solutions that integrate clinical care with operational efficiencies could be at the forefront of the next seismic shift in healthcare delivery.
Promising Areas for Investment
The convergence of technology, shifting consumer behaviors, and evolving healthcare models is creating high-growth opportunities across the wellness and health ecosystem. Investors have the chance to tap into markets that are redefining both personal health and systemic efficiency, with several segments standing out for their scale and momentum.
Fitness Technology
Wearables, online workout platforms, and data-driven coaching apps are transforming how people approach exercise. Companies like Fitbit and Peloton exemplify how technology can engage consumers in personalized, trackable fitness journeys. As more professionals — from busy CEOs to freelancers — look for convenient ways to stay fit, platforms that blend community, personalization, and accountability are set to thrive.
Our Take
Fitness is no longer a purely physical endeavor. Today’s consumers want analytics, digital coaching, virtual classes, and the ability to exercise anywhere. We see strong growth potential in offerings that combine robust technology with social features — think group challenges, gamification, and integrated health metrics that sync with wearables.
Alumni Venture’s portfolio reflects strategic investments in transformative health and wellness technologies, backed by some of the most respected investors in the space. Oura, a leader in personal health tracking through its innovative wearable technology, was secured alongside Gradient Ventures, Forerunner, and other top-tier co-investors. Epicore Biosystems, driving advancements in sweat biosensing and hydration monitoring, counts Chevron Technology Ventures and PepsiCo Ventures among its co-investors. TrainFitness A I— leveraging artificial intelligence to deliver real-time, data-driven fitness insights — was also an AV investment, in collaboration with Boost VC and other fitness and healthtech sector VCs.
Integrated Primary and Specialty Services
Healthcare is rapidly transitioning toward integrated models that offer comprehensive care across primary and specialty services. This shift reflects growing demand for patient-centric solutions that manage chronic conditions, streamline care coordination, and enhance accessibility. Companies are innovating platforms that combine in-person and virtual experiences, allowing patients to seamlessly engage with multi-disciplinary teams for both preventative care and specialized treatments.
Our Take
The next frontier in healthcare lies in ecosystems that unify primary, specialty, and chronic care under one platform. Startups building tech-enabled clinics, AI-powered diagnostics, and remote patient monitoring solutions are leading this charge. Investors should focus on ventures that drive efficiency, scale regionally, and offer a frictionless patient experience while reducing overall healthcare costs.
Our portfolio reflects the evolving consumer healthcare landscape, supporting companies that drive innovation across the care continuum. From maternal health at Oula Health (partnered with 8VC, Maverick Ventures, and others) to in-home chronic care solutions at Spiras Health (co-invested with NEA, FCA Ventures, and more) and next-gen primary care through Hopscotch Health (alongside 8VC, CVS Health Ventures, and others), we’re investing in the future of accessible, personalized healthcare.
Personalized Medicine
Advances in genomics and diagnostic tools are paving the way for highly individualized treatments. Consumers are already familiar with genetic testing kits that offer personalized diet, exercise, and supplement recommendations. As these solutions become more precise and scalable, expect a surge in demand for custom health plans that address everything from weight management to gut health to chronic disease prevention.
Our Take
Personalized medicine stands to replace one-size-fits-all recommendations with data-backed solutions. For investors, companies offering precision medicine, DNA analysis, microbiome testing, and AI-driven healthcare insights are primed for venture attention — especially when they address privacy, data integrity, and user-friendly product design.
Our portfolio extends into cutting-edge biotechnology and neurotechnology, targeting breakthrough advancements in medicine and patient care. Generate Biomedicines (co-invested with Flagship Pioneering, Novartis, and other biotech leaders) leverages AI to pioneer protein-based therapeutics, accelerating drug discovery and development. Bionaut (backed by Khosla Ventures and Upfront) is redefining precision medicine with microscale robots designed to deliver targeted treatments to previously inaccessible areas of the body. Precision Neuroscience (supported by B Capital, Forepont, and other top VCs) is at the forefront of brain-computer interface technology, developing minimally invasive neural implants to address neurological disorders.
Wellness-Focused Food and Beverages
Major household brands like Nestlé and Danone are creating low-sugar beverages, fortified snacks, and plant-based meals. Growing consumer awareness around issues like sugar intake, gut health, and food sustainability has led to a flurry of innovation in this space.
Our Take
Today’s health-conscious consumers scrutinize product labels, watch for hidden sugars, and may opt for functional ingredients that support gut or immune health. With the shift away from alcohol consumption, we see particularly strong prospects for non-alcoholic craft beverages, CBD-infused drinks, and other “better-for-you” beverages that align with growing health and wellness values.
Our portfolio reflects strategic investments in innovative consumer products, sustainable technology, and health-focused nutrition. Goodles (co-invested with L Catterton) is reimagining the packaged food industry by blending indulgence with health, creating nutrient-rich, gourmet mac and cheese for the modern consumer. Aquabyte (backed by NEA and Costanoa Ventures) applies machine learning and computer vision to revolutionize aquaculture, driving sustainability and efficiency in fish farming. Mend (co-invested with S2G Ventures) focuses on functional nutrition, developing clinically-backed supplements that accelerate recovery and enhance overall health.
Telemedicine and Mental Health’s Permanent Shift
The telehealth boom ignited by the pandemic has solidified virtual care as a critical pillar of healthcare delivery. This transformation now extends beyond general consultations, encompassing specialized services such as mental health, nutrition, and rehabilitation. Leaders in the space, like Teladoc Health and Amwell, continue to innovate, driving growth in virtual therapy, tele-psychiatry, and guided wellness platforms, meeting rising demand for mental health support and remote care.
Our Take
The convergence of telehealth and mental health represents one of the most scalable and impactful investment opportunities. With mental health awareness surging, platforms offering AI-driven, personalized therapy and virtual counseling are seeing strong adoption. Investors should prioritize startups addressing the accessibility gap, integrating with corporate wellness initiatives, and deploying AI to enhance user engagement and care outcomes.
Our portfolio represents a strategic investment in the next generation of virtual care and mental health solutions, addressing critical gaps in accessibility and quality. SonderMind (backed by Drive Capital, F-Prime Capital, and General Catalyst) is transforming mental health by connecting patients with personalized therapy services. MD Ally (co-invested with Frist Cressey Ventures and General Catalyst) enhances emergency care with telehealth solutions that integrate seamlessly with 911 systems. Boulder Care (supported by First Round Capital, Greycroft, and others) leads in virtual addiction treatment, delivering evidence-based care for substance use disorders.
Putting It All Together: Why Invest Now?
- Home
Enormous Market Potential:
Projected to reach $9 trillion by 2028, the wellness sector isn’t limited to niche yoga studios or a handful of beauty supplements. It’s a sprawling ecosystem. Corporate wellness, pharmaceuticals, mental health, and digital fitness are all charting paths of growth, inviting investors to participate in a market that touches every demographic segment. - Home
Shifting Consumer Priorities:
Post-pandemic, consumers are more proactive, health-literate, and discerning. They demand solutions that are accessible, tech-enabled, and backed by science — whether it’s a wearable that tracks heartrate variability or a high-tech beverage with functional ingredients. Meanwhile, the drive to cut back on alcohol consumption, adopt time-efficient workouts, and address mental health concerns is only growing. - Home
Tech-Enabled Transformation:
AI, robotics, and data analytics are rewriting the rules of healthcare and wellness. Telehealth platforms are reaching patients in rural areas, AI-based platforms and robots are assisting in personalized therapeutics and surgeries, and apps are fueling self-improvement journeys with round-the-clock analytics. This means that new, scalable companies can become market leaders relatively quickly, provided they truly address consumer needs. - Home
The Human-Centric Counterbalance:
Each wave of tech adoption triggers an even stronger interest in solutions that help us reconnect with our bodies and minds. For VCs, that opens up a host of market segments focusing on real-life, human experiences — from curated group fitness events to in-person mental wellness retreats, to specialized coaching for executives who realize health is their real competitive advantage (2–5). - Home
Timing Is Everything:
Adoption curves for new behaviors, like cutting back on alcohol or using wearables for daily health monitoring, are accelerating. Markets that once seemed niche are hitting critical mass. Recognizing these early shifts is a hallmark of a savvy investor. At this moment, the wellness industry is on an upward trajectory, fueled by demographic shifts, cultural momentum, and technological innovation.
Closing Thoughts
The future of investment lies at the intersection of technology and human-centered innovation. As AI, automation, and digital platforms accelerate, the desire for health, longevity, and meaningful human experiences is becoming a driving force across industries. Wellness is no longer a niche or fleeting trend — it’s a transformative wave reshaping markets from pharmaceuticals to fitness tech and personalized medicine. The emergence of GLP-1 therapies, functional health products, and AI-driven health solutions signals a new era where the line between healthcare, lifestyle, and technology blurs.
For investors, this shift represents not just a chance to capitalize on market momentum but to actively shape the infrastructure supporting this evolution. The wellness economy isn’t slowing — it’s expanding rapidly, propelled by consumer demand for longevity, performance, and connection. Those who invest today are laying the foundation for returns that will compound alongside society’s growing prioritization of health. The question isn’t whether this sector will thrive — it’s who will be bold enough to lead the charge into the next frontier of innovation.