Physicians Capital Fund is an early-stage healthcare fund anchored by physicians and allied health professionals. We're bridging the gap between tech innovators and those on the healthcare frontline. Through strategic investments in the most fundamentally promising healthcare solutions, we're driving a new standard of healthcare innovation.
Recently, President Trump signed an executive order that could reshape how Americans invest for retirement. The order directs the Department of Labor and SEC to revise regulations, potentially allowing 401(k) plans to include venture capital, private equity, private credit, real estate, and even crypto1. Axios called it a "major realignment of the capital markets," with the potential to make "private equity even more ubiquitous" 2.
That's not hype. We're talking about access to over $9 trillion in defined-contribution retirement accounts—capital that, until now, has been largely restricted to public stocks and bonds.
This move doesn't surprise us, but rather it reinforces what we've been building: access to high-quality private deals for investors who want more than just index funds.
As PitchBook reported, the executive order could finally "clear the way for 401(k) investors to access alternative assets for better returns and diversification"1.
It's a massive shift, not just for investors, but for the private markets as a whole. Institutional investors are already pulling back. Axios put it bluntly:
"Adding 401(k)s could refill the pot, after several years of fundraising declines" 2.
There's reason to be excited, but also realistic.
"Private markets are a different ballgame," said Simon Tang of Accelex. "Retail investors are used to instant pricing, clean data, and daily performance updates"1.
And as Shana Orczyk Sissel, CEO of Banrion Capital, put it:
"I will preach the gospel of alts... but not everything's meant for every person"1.
That's why we focus on clarity, education, and deal quality. It's not about access for access's sake — it's about the right opportunities, in the right structure, for the right investor.
This order isn't a done deal, but it's a clear directional signal. Agencies have 180 days to evaluate and propose new rules2. Some plan administrators may still hesitate due to fees, liquidity constraints, and transparency concerns.
Whether this regulatory shift takes months or years to finalize, the direction is clear: alternatives are moving into the mainstream.
We're ready, and so are many of our investors.
If you're interested in learning how to invest through a self-directed IRA or donor-advised fund, we're happy to walk you through it. This doesn't have to be something you wait years to act on. Connect with us to get started.
Footnotes:
1: Shi, Madeline. "Trump signs executive order opening 401(k)s to private markets." PitchBook, August 7, 2025. Link
2: Primack, Dan. "Trump to supercharge private equity with 401(k) order." Axios, August 7, 2025. Link
