Oak HC/FT

Oak HC/FT grew out of Oak Investment Partners, a venture capital firm founded in 1978. In March 2014, while investing its thirteenth fund, Oak Investment Partners announced a restructuring: its healthcare and financial technology investors and its IT investors would each raise their own dedicated funds, with no shared back-office services and no further generalist funds, while both would continue managing the existing portfolio. Oak’s most recent fund had targeted $1.5 billion but closed on less than $800 million, with about 25 percent allocated to healthcare and financial technology.⁠[1][2][2][2][2][2][2]

Oak HC/FT was established by the leaders of Oak Investment Partners’ healthcare and fintech team as part of Oak’s strategy to develop sector-specific funds. The team’s prior Oak investments included athenahealth, Benefitfocus, Castlight Health, NetSpend, Argus Information & Advisory Services, iHealth Technologies, and PharMEDium, with a record of 20 realizations, four IPOs, and six companies valued at more than $1 billion.⁠[3][3][3][3]

The first fund, Oak HC/FT Partners, L.P., closed in June 2014 at $500 million and was led by Annie LamontAnnie LamontAnnie Lamont is an American venture capitalist and the co-founder and managing partner of Oak HC/FT, a healthcare and financial technology investment firm. She previously led healthcare and fintech investing at Oak Investment Partners for many years and has invested in companies including athenahealth, One Medical, VillageMD, and CareBridge.Open the full entry (Ann H. Lamont), Andrew Adams, and Patricia Kemp; as of June 20, 2014, the fund had sold $456.1 million of interests, with the same three as executive officers. Lamont served as managing partner, Adams focused on fintech, and Kemp, previously an Oak venture partner, focused on healthcare. Two of the three general partners were women.⁠[3][4][4][4][2][2]

The first fund’s healthcare focus was North American providers of tech-enabled services rather than pharmaceuticals or medical devices, while its fintech focus could include Europe. The founding team also included technology partner David B. Black and venture partners Nancy Brown (formerly of athenahealth and companies in the McKesson orbit), Anil D. Aggarwal (former chairman and CEO of TxVia and founder of Money20/20), and Jonathan Weiner (former global head of business development for Google Wallet). The firm was headquartered in Greenwich, Connecticut, and as of September 2014 had not yet completed its first deal.⁠[2][3][3][2][3][3][3][2]

Companies backed by the first fund included the home-based palliative care company Aspire Health, the primary care management services company VillageMD, Hometeam, Quartet Health, US HealthVest, the pharmacy benefit manager LDI, Limeade, Maestro Health, and, in fintech, Feedzai, Poynt, Urjanet, FastPay, Trov, and Insureon.⁠[5][5][5][5][5]

Oak HC/FT led a $15 million Series C round in Aspire Health and a $36 million Series A round in VillageMD, and Lamont joined the boards of both companies.⁠[6][6][7][7]

In March 2017, Oak HC/FT recorded its first exit when Thermo Fisher Scientific acquired Core Informatics, a cloud-based platform for scientific data management; terms were not disclosed.⁠[1][8]

In April 2017, Oak HC/FT closed its second fund at $600 million; as of April 17, Oak HC/FT Partners II, L.P. had sold $600 million of interests. At the time the firm had seven full-time investors and three analysts, and its venture partners included the oncologist and bioethicist Zeke Emanuel; it typically invested $5 million to $50 million in growth-stage companies and $15 million to $35 million in earlier-stage startups.⁠[1][5][9][9][1][1]

As of January 2018, the firm had 22 employees and 15 active investments, including Digital Currency GroupDigital Currency GroupDigital Currency Group (DCG) is a crypto asset investment and holding company headquartered in Stamford, Connecticut, founded by Barry Silbert in 2015. It invests in blockchain startups with permanent capital and owns subsidiaries including the digital asset manager Grayscale. In 2022, its crypto lender Genesis suffered losses after major client Three Arrows Capital defaulted and filed for bankruptcy the following year, leaving DCG and Silbert facing a lawsuit by the New York Attorney General, an SEC penalty, and multiple civil suits.Open the full entry, Feedzai, Maestro Health, Insureon, and Trov.⁠[10]

On June 18, 2018, the health insurer Anthem (now Elevance HealthElevance HealthElevance Health is a health insurance and health services company headquartered in Indianapolis, Indiana, listed on the New York Stock Exchange (ticker ELV). An independent licensee of the Blue Cross and Blue Shield Association, it is one of the largest health insurers in the United States by medical membership. The company traces its roots to Blue Cross of Indiana, founded in 1944; it was named Anthem, Inc. when it demutualized and went public in 2001, was called WellPoint, Inc. from 2004 to 2014, then returned to the Anthem name before adopting its current name in June 2022.Open the full entry) completed its acquisition of Aspire Health; financial terms were not disclosed. Oak HC/FT counts the transaction as an exit.⁠[11][11][8]

Five years after its founding, Oak HC/FT announced its oversubscribed third fund of $800 million; the Form D for Oak HC/FT Partners III, L.P. was signed on July 31, 2019. By then the firm had made close to 40 healthcare and fintech investments, completed four exits to strategic buyers, and grown to 30 people with offices in Greenwich, Boston, and San Francisco.⁠[12][13][13][12]

In July 2020, Walgreens Boots Alliance announced it would invest $1 billion in equity and convertible debt in VillageMD over three years, including a $250 million equity investment already completed, and expand their partnership to open primary care practices in its stores. On October 14, 2021, WalgreensWalgreensWalgreens is an American retail pharmacy chain founded in 1901 that offers prescription filling, vaccinations, health services and everyday retail goods. Its operating company, Walgreen Co., was formerly part of Walgreens Boots Alliance (WBA) and became an independently operated private company after Sycamore Partners completed its acquisition in 2025.Open the full entry announced a further $5.2 billion investment raising its stake from about 30 percent to about 63 percent; the transaction closed on November 24, 2021, with consideration of $4.0 billion in cash and a $1.2 billion promissory note, and Walgreens began consolidating VillageMD.⁠[14][14][15][16][16][16]

Oak HC/FT subsequently exited its VillageMD investment, which Lamont lists among prior investments acquired by Walgreens; the timing and proceeds of Oak HC/FT’s exit have not been made public.⁠[8][17]

Seven years after its founding, Oak HC/FT announced the close of its fourth fund, adding $1.4 billion in fresh capital, with a team of about 30 and a portfolio of 60 companies; the Form D for Oak HC/FT Partners IV, L.P. was filed on January 19, 2021.⁠[18][18][19][19][19][19]

On July 13, 2022, Oak HC/FT announced the close of its fifth fund at $1.94 billion, with focus areas including healthcare automation, value-based care, e-commerce enablement, and identity protection.⁠[20][20][20][20]

On December 10, 2024, Elevance Health completed its acquisition of CareBridge, which manages home and community-based services for Medicaid populations receiving long-term services and support, in a deal valued at about $2.7 billion. CareBridge was founded by Aspire Health founder Brad Smith, and Oak HC/FT was an investor.⁠[21][22][17][17][8]

On July 24, 2025, Oak HC/FT Partners VI, L.P. filed a Form D with the U.S. Securities and Exchange Commission, listing Ann H. Lamont and Andrew Adams as executive officers, the fund type as a venture capital fund, and an address at 2200 Atlantic Street in Stamford, Connecticut.⁠[23][23][23][23][23]

In 2025, Oak HC/FT led a $130 million Series B round in the AI drug discovery company Chai Discovery. In September and October 2026, the firm announced that it had led a $35 million Series A round in the stablecoin payments company Latitude and a $30 million Series A round in Halluminate, and that it had invested in Vitalize, a platform for hospital labor and capacity operations (whose $31 million Series A was announced on October 6, 2026).⁠[24][22][25][25][25][8]

Oak HC/FT describes itself as partnering with founders driving structural change in two complex systems, healthcare and financial services, with checks ranging from $1 million to $100 million from seed to growth. As of October 2026, Oak HC/FT said it managed about $10 billion in assets and more than 100 portfolio companies, with offices in Stamford, Connecticut, and San Francisco. In 2023, Oak HC/FT was named one of the ten best-performing growth equity firms in the world.⁠[25][25][25][25][26]

As of October 2026, Annie Lamont and Andrew Adams are co-founders and managing partners, and co-founder Tricia (Patricia) Kemp is listed as an advisor.⁠[27][27]

In addition to the transactions above, Oak HC/FT’s exits include the IPO of Blend, the acquisition of Bridge by Stripe, the IPO of GeneDx, the acquisition of LDI by Diplomat Pharmacy, the acquisition of Limeade by WebMD Health Services, the merger of Interwell Health with Fresenius Medical Care, the acquisition of Therapy Brands by KKR, the acquisition of Urjanet by Arcadia, and the acquisition of OncoHealth by Arsenal Capital Partners, among others.⁠[8][8][8][8][8][8][8][8]

Oak HC/FT also lists athenahealth, NetSpend, One Medical, Payflex, and others as prior investments, most of them made by the founding team during the Oak Investment Partners era. For example, before the IPO of One Medical’s parent 1Life Healthcare, Oak Investment Partners XII held 11.4 percent; on February 22, 2023, Amazon completed its all-cash acquisition of One Medical at $18 per share, valued at about $3.9 billion including net debt. PayFlex Systems was also among Lamont’s prior investments and was later acquired by Aetna.⁠[8][8][28][29][30][17]

Oak HC/FT: Official website: https://www.oakhcft.com/ (opens in a new window).⁠[25]