Inaugural venture-capital fund builds on decades of investment success
Aims to stimulate growth and innovation in healthcare and financial services
Oak HC/FT today announced the launch of its debut, venture growth-equity fund investing in Healthcare Information & Services and Financial Services Technology companies.
Oak HC/FT Partners was established by the leaders of the Healthcare and FinTech investment team at Oak Investment Partners as part of Oak’s strategy to develop sector-specific funds. Oak’s first sector-focused fund will build on the team’s investment track record that features 20 realizations, four IPOs and six companies achieving valuations in excess of $1 billion.
The $500 million Oak HC/FT Fund, which closed in June, is led by Ann H. Lamont, Andrew W. Adams and Patricia F. Kemp to drive continued innovation in the dynamic Healthcare and FinTech sectors, which are experiencing substantial growth and expansion in the U.S. and Europe.
“Global technology innovations, cost pressures and regulatory changes are creating unprecedented opportunities in the Healthcare and FinTech sectors. We are excited to further this transformational growth and build on our significant investment legacy,” said Annie Lamont, managing partner.
Andrew Adams, general partner, said, “Our team has more than a decade of experience working with leading entrepreneurs and growth companies in the Healthcare and FinTech space. This new fund will enable us to capitalize on continued demand for technology-enabled solutions, data and analytics and alternative delivery models in both sectors.”
Patricia Kemp, general partner, added, “Annie, Andrew and I look forward to partnering with world-class entrepreneurs and providing them with the domain expertise, strategic focus and extensive network Oak HC/FT can offer as they bring to market their innovative, technology-driven solutions.”
The investment team, led by Ms. Lamont, Mr. Adams and Ms. Kemp, has more than 50 years of combined investment experience at Oak and was active in Oak’s investments in athenahealth, Benefitfocus, Castlight Health, NetSpend, Argus Information & Advisory Services, iHealth Technologies, Clarient, United BioSource, Vesta, PharMEDium and TxVia.
In addition to the three partners, the Oak HC/FT investment team includes:
David B. Black, Technology Partner, who focuses on Oak investments that make substantial use of information technology and has had active involvement with a number of Healthcare and FinTech companies.
- Nancy Brown, Venture Partner, who brings more than 25 years of healthcare information technology experience through various executive roles, including at three early-stage companies—two sold to McKesson and a third IPO, athenahealth, where she led development of athenaClinicals and served as head of corporate development.
- Anil D. Aggarwal, Venture Partner, a successful FinTech entrepreneur who is chairman and founder of Money20/20 and previous chairman and CEO of TxVia.
- Jonathan Weiner, Venture Partner, an established, serial entrepreneur in payments who founded Money20/20 and previously served as global head of business development for Google Wallet.
- Vignesh Chandramouli, Senior Associate, with healthcare investment experience at a middle-market growth-equity firm.
Oak HC/FT is headquartered in Greenwich, Connecticut.
About Oak HC/FT
Oak HC/FT (http://oakhcft.com/) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). We are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is led by the Healthcare and FinTech team of Oak Investment Partners as part of Oak’s strategy to develop sector-specific funds and continue its legacy of building best-in-class businesses.