Oak HC/FT, a premier venture growth-equity fund investing in tech-enabled healthcare and financial services companies, announced today the addition of Michael Vaughan, former Chief Operating Officer of Venmo, as an Executive in Residence (EIR). In his role, Michael will be responsible for developing and advising new fintech businesses through a combination of building from scratch and investing in early- and growth-stage companies.
As one of Venmo’s earliest employees, Michael led the company from its Series A funding round in 2011 through two strategic acquisitions to PayPal’s recent announcement that Venmo reached 40 million active users in Q1 2019 with a $300 million annual revenue run rate and is on pace to process $100 billion in payments in 2019.
“Mike led the Venmo team for eight years and through many transformative events, all while maintaining its startup and high growth culture.” said Patricia Kemp, Co-Founder & General Partner at Oak HC/FT. “His outstanding experience leading high growth businesses makes him an exceptional addition to Oak HC/FT as we continue to build and invest in companies leveraging technology to solve pain points in financial services.”
“Oak HC/FT has a great reputation among investors and entrepreneurs,” said Michael Vaughan. “I’m excited to have the opportunity to work with this amazing team and the next wave of innovative founders and companies changing the industry.”
Prior to Venmo, Michael played a pivotal role in growing innovative companies in the wireless space, financial services industry and event ticketing market. He earned his undergraduate degree from The Wharton School at the University of Pennsylvania.