Oak HC/FT closes debut fund on $500 mln

Oak HC/FT, formed by three partners from Oak Investment Partners, has closed its debut venture growth fund on $500 million. The fund will target investments in healthcare information and services and financial services technology.

Fund I closed in June. It is led by Ann Lamont, Andrew Adams and Patricia Kemp and is part of Oak Investment Partners’ strategy to develop sector-specific funds, according to a statement from the firm. The exact relationship between Oak Investment Partners and Oak HC/FT is not clear.

“Global technology innovations, cost pressures and regulatory changes are creating unprecedented opportunities in the healthcare and fintech sectors,” Lamont said in a statement.

The new fund’s founders are expected to retain their responsibilities at Oak Investment Partners, peHUB reported in a past article. Lamont is an Oak managing partner who leads the firm’s healthcare and financial services technology teams; Adams is an Oak general partner who focuses on healthcare and fintech and Kemp is an Oak venture partner focused on financial services technology.

Other professionals at Oak HC/FT include David Black, technology partner; Nancy Brown, venture partner, who joined this year from McKesson Technology Solutions, where she worked as a vice president of strategy and business development; Anil Aggarwal, venture partner, who joined this year after co-founding financial innovators event Money2020 and working as global head of business development at Google Wallet; Jonathan Weiner, venture partner who joined this year after co-founding Money2020 and working as head of global business development for Google Wallet and Payments, and Vignesh Chandramouli, senior associate.

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