April 18, 2017
At three years old, Oak HC/FT is a young firm. But its investors clearly have faith in the outfit. It closed its debut fund with $500 million in late 2014; yesterday, it closed its second fund with $600 million.
Having ties to a company that investors know well goes a long way in explaining their trust. Oak HC/FT spun out of Oak Investment Partners, a powerhouse that manages more than a dozen funds focused on private equity-type investments in tech and has invested billions of dollars in hundreds of companies since its 1978 founding.
The younger carve-out — which is focus exclusively on financial and healthcare technology companies — also has its share of star power, including Annie Lamont, who joined Oak in 1982 and is the managing partner of Oak HC/FT; her many bets over the years include Castlight Health, a health benefits platform that went public in 2014, and Poynt, a three-year-old, software-enabled point-of-sale device that merchants use to accept credit and debit cards.