Oak HC/FT Funds I, II, III
Oak HC/FT Funds I, II, III is a company.
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Financial History
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Leadership Team
Key people at Oak HC/FT Funds I, II, III.
Oak HC/FT Funds I, II, III is a company.
Key people at Oak HC/FT Funds I, II, III.
Oak HC/FT is a premier venture growth-equity firm founded in 2014, specializing in investments in Healthcare Information & Services (HC) and Financial Services Technology (FT).[1][2][3] Its mission is to support exceptional entrepreneurs driving transformation in these multi-trillion-dollar sectors by leveraging decades of sector experience, providing strategic counsel, board-level participation, business plan execution, and access to extensive industry networks.[1][2][3][7] The firm's investment philosophy emphasizes partnership from seed to growth stages, focusing on companies that improve operational efficiency, expand into new markets, enhance consumer experiences, and create measurable social impact, such as increasing access to affordable care and delivering financial efficiency and fairness.[1][3][5]
With over $5.3 billion in assets under management across five funds—including Fund I ($500M in 2014), Fund II ($600M), Fund III ($800M in 2022), and a $1.4B Fund IV in 2021—Oak HC/FT has invested in 159+ companies, achieving 25+ exits and backing unicorns.[3][4] It significantly impacts the startup ecosystem through its track record of four IPOs, six unicorns, and successes like Feedzai (AI fraud detection), Pagaya (asset management), Galileo Health, and Unite Us (Medicaid services), while operating from offices in Greenwich/Stamford CT, Boston, and San Francisco.[1][3][4][6]
Oak HC/FT originated in 2014 when the Healthcare and FinTech investment team from Oak Investment Partners—led by Ann "Annie" H. Lamont (managing partner), Andrew W. Adams, and Patricia "Tricia" F. Kemp—spun out to form a sector-specific fund as part of Oak's strategy.[1][2][4] Drawing on decades of prior success (20 realizations, four IPOs, six unicorns at Oak), they launched their inaugural $500M Fund I in June 2014, headquartered in Greenwich, Connecticut, to capitalize on global tech innovations, cost pressures, and regulatory changes in HC and FT.[2]
The firm evolved rapidly: by 2019, it raised Fund II ($600M); Fund III ($800M, oversubscribed in 2022 after ~40 investments and four exits); and Fund IV ($1.4B in 2021, tripling AUM to over $5B).[1][4] Focus sharpened on virtualization, value-based care, AI applications, and social impact, expanding to 30 professionals across three offices and 80+ portfolio companies by 2023.[1][3][5]
Oak HC/FT rides key trends like healthcare virtualization, value-based care (shifting from fee-for-service to outcomes-based), AI-driven efficiencies, and fintech digitization amid escalating HC costs and financial service proliferation—accelerated by the COVID-19 pandemic.[1][4][5] Timing is ideal: sectors face cost pressures, regulatory shifts, and tech adoption booms, creating "endless opportunities" without needing policy changes.[1][8]
Market forces favor them, including U.S./Europe expansion, Medicaid's massive underserved populations, and fintech's push for transparency/fairness.[1][4] The firm influences the ecosystem by backing transformative companies (80+ portfolio firms improving patient outcomes, financial wellness), issuing impact reports, and proving early bets on HC/FT pay off—tripling AUM in six years while fostering economic activity and healthier communities.[3][5][6]
Oak HC/FT is poised to deploy its latest funds into AI-enhanced care delivery, risk-bearing providers, and global fintech expansion, maintaining oversubscribed raises amid market cycles.[1][4] Trends like rising HC costs, fintech proliferation, and social impact demands will shape its path, with deeper focus on complex patients, SMB financial tools, and virtual transformation.[1][5]
Its influence will evolve as a go-to partner for founders tackling "tough problems" in expanding markets, potentially scaling AUM further through more exits and unicorns—reinforcing its purpose-built edge in driving structural change.[1][3][7] This builds on a decade of growth, from $500M debut to $5.3B powerhouse, proving seasoned networks yield uncommon outcomes in HC/FT.
Key people at Oak HC/FT Funds I, II, III.
