Launching Oak HC/FT Fund III — Celebrating Five Years of Growth & Innovation
By Annie Lamont, Andrew Adams, and Tricia Kemp
Five years after founding Oak HC/FT, we are excited to announce the launch of our oversubscribed $800 million Fund III. Our mission in 2014 — as it is now — was to apply our decades of experience in Healthcare and FinTech to bring together the best team and resources in support of entrepreneurs solving some of the toughest problems in these two multi-trillion-dollar markets.
The last five years have flown by. Along the way, we’ve made close to 40 investments in Healthcare and FinTech. We’ve celebrated four successful exits to strategic buyers. And our incredible team has grown to include 30 professionals across three offices — in Greenwich, Boston, and San Francisco.
Our Executive in Residence program has recently added industry leaders like Michael Vaughan, former chief operating officer of Venmo, and Jenn Adams, who has three decades of experience growing Healthcare companies. Both executives chose Oak HC/FT to help them build their next businesses as did Andrew Robinson, who became co-CEO of leading property insurance AI company, Groundspeed, and our very own Chris Price, who successfully launched WithMe Health, an innovative medication navigation solution.
As our firm has grown, so have our portfolio companies which have all reached new and greater heights. Feedzai has shown proven results from its application of deep AI to combat fraud for financial institutions, as has Pagaya in its mission to revolutionize asset management. Galileo Health and Unite Us are serving complex, underserved populations in the massive Medicaid market. Kasisto, Kryon, and Ocrolus are similarly using modern tech solutions to drive efficiencies across all functional areas of financial services. VillageMD and Paladina Health’s high-quality primary care are driving significant downstream cost-savings. OODA Health, TherapyBrands, and Notable Health are driving change in Healthcare payments at the intersection of our target domains. Each entrepreneur, team, and company we’ve had the privilege of partnering with has made it their mission to have significant positive impact on their target market and so have we.
As we move forward with Fund III, we will continue exploring new approaches to solving complex problems in our focus markets. Healthcare costs will continue to escalate. Digitization of financial services will continue to proliferate. The opportunities are endless and endlessly evolving, and Oak HC/FT is purpose-built to keep pace.
Navigating the cycles — regulatory, economic, hype — in our industries is nothing new to us. We have deep experience across Healthcare and FinTech, and we bring focused perspectives and an unwavering belief that both markets will continue expanding and prospering. There will always be a market for improving operational efficiency, powering the expansion into a new growth market, and improving a consumer’s way of life — or just life, in general. That’s what our companies do and that’s why we believe we’re the place to spend time to develop fresh ideas.
We’ve been around a long time and know that great opportunities don’t come in the same shape or size. We look at each market opportunity with the entrepreneur to determine the best approach. Sometimes it’s an expansion or consolidation at the growth stage and at other times it’s at the company creation phase. Staying inventive and flexible is a part of our DNA, and it’s what we bring to great opportunities anywhere in the world.
Above all, we’re grateful to our Oak HC/FT family — our incredible team, the talented entrepreneurs who choose to work with us, and our limited partners who continue to make this possible. While we enjoy looking back at all that we have built over the past five years, we feel like we’ve just begun and are thrilled to get started on the next chapter with Fund III.
