Oak HC/FT
healthcare and fintech focused growth equity firm
Stamford, Connecticut

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Overall Rank: 54
Category: Emerging Growth
Category Rank: 19

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Profile

Oak HC/FT is a growth equity firm investing in companies driving structural change in two complex systems: healthcare and financial services. Oak HC/FT was founded in 2014 to partner with the most successful teams in healthcare and financial services, across a company’s lifecycle, to solve valuable problems in these sectors. Ten years later, Oak HC/FT’s unparalleled network and decades of sector experience have established the firm as one of the best-performing growth equity firms in the world.


Since its launch, Oak HC/FT has raised $5.3 billion across five funds and backed over 85 companies. Through decades of investing, the partners at Oak HC/FT have had more than 49 successful exits with 35 companies achieving valuations over $1 billion.


Awards

2023 Top Growth Equity Firms

Key People

Annie Lamont, Co-Founder & Managing Partner

Annie Lamont co-founded Oak HC/FT in 2014 to invest exclusively in healthcare and fintech entrepreneurs. Before founding Oak HC/FT, Annie spent 28 years at Oak Investment Partners, where she served as a Managing Partner and led the healthcare and fintech practices. Annie has more than 70 exits, including 15 IPOs, and has been widely recognized for her role in transforming the healthcare industry by funding technology and new commercial models that better align structural economic incentives.

Andrew Adams, Co-Founder & Managing Partner

Andrew Adams co-founded Oak HC/FT in 2014 to invest exclusively in healthcare and fintech entrepreneurs. Before founding Oak HC/FT, Andrew spent 15 years, primarily at Oak Investment Partners, investing in early and growth stage companies.  During the over 25 years Andrew has spent investing in leading healthcare companies, he has had 35 exits, including 6 IPOs.

Funds Raised

Oak HC/FT was founded in 2014 to partner with entrepreneurs to build companies that make a measurable and lasting impact on the healthcare and financial services industries. The firm launched with an inaugural $500 million fund and has grown to $5.3 billion in assets under management. In 2022, Oak HC/FT raised its fifth and largest fund to date—$1.94 billion Fund V—to continue investing in entrepreneurs shaping the future of healthcare and financial services. Over the last ten years, Oak HC/FT’s strategy and mission to drive positive, impactful change has remained constant and the firm has maintained its position as the proven partner for entrepreneurs scaling businesses that are driving the transformation of the U.S. healthcare system and international financial services sector.

Fund Name Size Date
FUND V $1.94B 2022
FUND IV $1.4B 2021
FUND III $800M 2019
FUND II $600M 2017
FUND I $500M 2014

Key Investments

Black Ore: Invested November 2023
Sector: Fintech 

Black Ore offers an AI and automation platform that accelerates core workflows for financial services businesses and simplifies the experience for their clients. Its flagship product, Tax Autopilot, combines its proprietary AI technology with federal and state tax codes and regulations to automate the tax preparation and review process. 

CareBridge: Invested January 2019
Sector: Healthcare

CareBridge is a value-based healthcare company that assists health plans and states in caring for individuals receiving home and community-based services. CareBridge’s solutions have been shown to increase independence, improve clinical quality, and reduce emergency room visits, hospitalizations and total costs all while receiving a Net Promoter Score of 84 from patients and families.

Cart.com: Invested August 2021
Sector: Fintech 

Cart.com is the leading provider of unified commerce and logistics solutions that enable B2C and B2B companies to sell and fulfill anywhere their customers are. The company’s enterprise-grade software, services and logistics infrastructure, including its own network of fulfillment and distribution centers, are used by some of the world’s most beloved brands and most complex companies to unify commerce operations across channels and drive more efficient growth. 

Devoted Health: Invested October 2017
Sector: Healthcare 

Devoted Health is on a mission to dramatically improve the health and well-being of older Americans by caring for every person like family. To accomplish this, Devoted has designed and built an integrated all-in-one healthcare solution that combines Devoted Health Medicare Advantage plans, access to high-quality local providers alongside virtual and in-home care delivered by Devoted Medical, full-service Guides, and world-class technology that powers it all. 

Feedzai: Invested May 2015
Sector: Fintech

Feedzai is the world’s first RiskOps platform, protecting people and payments with a comprehensive suite of AI-based solutions designed to stop fraud and financial crime. Feedzai is trusted by leading financial institutions to manage critical risk and compliance processes, safeguarding trillions of dollars of transactions while improving the customer experience and protecting the privacy of everyday users. 

Galileo: Invested November 2017
Sector: Healthcare

Galileo is a team-based medical practice working to improve the quality and affordability of healthcare for all. Operating across 50 states, Galileo offers high-touch, data-driven, multi-specialty, longitudinal care to diverse and complex patients—on the phone, in the home, and everywhere in between. 

Main Street Health: Invested May 2021
Sector: Healthcare

Main Street Health is a value-based healthcare company focused exclusively on serving rural America. Main Street partners with local primary care physicians to move their practice into value-based care, placing a Health Navigator in each clinic that Main Street serves and providing the clinic with the data and opportunities they need to succeed in value-based care. 

Maven: Invested September 2018
Sector: Healthcare

Maven is the world’s largest virtual clinic for women and families on a mission to make healthcare work for all of us. Maven’s award-winning digital programs provide clinical, emotional, and financial support all in one platform, spanning fertility and family building, maternity and newborn care, parenting and pediatrics, and menopause. 

Rapyd: Invested August 2019
Sector: Fintech 

Rapyd makes cross-border commerce as easy as being next door. From Fortune 500 companies to ambitious business and technology startups, Rapyd’s payments network and powerful fintech platform make it easy to pay suppliers and get paid by customers—locally or internationally.

Capital Responsibility

Oak HC/FT recognizes that the healthcare and financial services sectors are embedded in nearly all industries and aspects of society, impacting the lives of billions of people around the world. Through Oak HC/FT’s investments in these two verticals, the firm can create significant change and understands its duty to align with investments that positively impact the greater community. Since launching in 2014, Oak HC/FT has remained steadfast in its pledge to drive transformation across healthcare and financial services in tandem with driving social good. 

Oak HC/FT established a formal ESG policy in 2017 and is committed to reviewing it on an annual basis to ensure it remains aligned with industry expectations. Developed with consideration to the United Nations-supported Principles for Responsible Investment (PRI), the policy outlines the framework of Oak HC/FT’s ESG approach within the firm and across its portfolio companies. The policy highlights the importance of ESG considerations in the firm’s investment strategy and how it monitors ESG risks throughout the investment cycle of each portfolio company.

To provide full transparency on ESG initiatives in its portfolio, Oak HC/FT partnered with Novata in 2022 to collect and analyze individual metrics from each portfolio company. These metrics were included in the firm’s inaugural Social Impact Report, which was published in January 2023 and illustrates areas where Oak HC/FT is creating positive, lasting change across healthcare and financial services. Oak HC/FT has committed to updating this report on an annual basis, with the newest edition slated to launch in early 2024.

CEO Reviews

Brad Smith, Founder of Aspire Health, CareBridge and Main Street Health

Annie Lamont and the Oak HC/FT team are exactly the kind of investors every entrepreneur should want —they are the first people we bring every one of our deals to. I have now worked with Annie across three companies, and her strategic insight, experience and relationships are unmatched.

Kate Ryder, Founder of Maven

To affect change in healthcare, you must innovate from within, not try to blow it up from the outside. This is hard for some investors to appreciate, but the Oak HC/FT team has always gotten it. From the earliest meetings with Nancy Brown, I knew that she deeply understood the problems we set out to solve in women’s and family health, and what it would take to solve them. She has been a critical partner as we’ve navigated the complexities of our system and has genuinely contributed to our success.

Nuno Sebastião, Founder of Feedzai

Oak HC/FT is a full-stack investor. They have been with us from our early days through breaking out past our growth stage. What’s unique is that they’ve been useful at every stage because they know our space so well. They’ve shown up when we needed them. Not many investors can do that–they’ve always been there for me. Truly real partners the whole time.