Oak HC/FT is a venture growth equity firm working with founders driving structural change in two complex systems: healthcare and financial services.
Joined June 2015
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Stablecoins aren't a crypto story. They're a story about the infrastructure of global commerce.
In his latest piece, Oak HC/FT Partner Oivind Lorentzen explores how stablecoins have shifted from crypto trading instruments to the connective tissue of global B2B payments – and why the companies that make complexity disappear will define the next decade of cross-border finance.
Read more: oakhcft.com/blog-post/reimag…
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We're proud to announce that Oak HC/FT led @StepfulTraining's $55M Series C – and we couldn't be more excited to double down on Carl Madi and the team.
Carl turned a labor crisis into a healthcare workforce engine: a 5-month certification track (vs. 2 years at community college), 22,000 graduates in 2025, and partnerships with 35 health systems.
In this interview, Carl details how Stepful is utilizing AI to solve the projected shortage of millions of healthcare workers and why the future of vocational training lies in a decentralized, skill-based model.
Read the full Q&A with Carl: oakhcft.com/blog-post/closin…
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We're thrilled to welcome John Maraganore as an Advisor to Oak HC/FT.
John is one of life science industry’s most influential architects – best known as the founding CEO of Alnylam Pharmaceuticals, where he spent nearly two decades turning RNA interference from a risky lab concept into a multi-billion-dollar global commercial reality.
In our latest post, we sat down with John to hear his perspective on where AI is – and isn't – living up to the hype in drug discovery, why hands-on founders still have a decisive edge, and what it really takes to believe in a technology before the rest of the world does.
Read more: oakhcft.com/blog-post/welcom…
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We’re thrilled to congratulate @annielamont on being named to the 2026 @Forbes Midas List. Annie's conviction in mission-driven founders has helped build some of the most impactful companies in healthcare and fintech, and this recognition reflects her long-standing focus on backing founders and businesses driving measurable, lasting impact. Congratulations, Annie!
forbes.com/lists/midas/
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We're excited to announce our participation in @catena_labs' $30M Series A.
The financial system was built for humans – but agents are already beginning to hold funds, initiate payments, and settle invoices on behalf of the businesses that deploy them. Catena is building the infrastructure layer that makes this possible: a banking platform purpose-built for agents, paired with a governance and control layer for operators.
With a founding team that brings deep experience building regulated, programmable financial infrastructure at scale – @psneville, @mattyven, and Sharda Caro Del Castillo – Catena is positioned to become the trusted platform for the agent economy.
Read more: lnkd.in/dQQcrGfW
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Capital markets – long considered hostile terrain for startups – is flashing the Bat Signal. In a new blog post, Oak HC/FT Partner @mandrusko1 explains why now is a compelling moment to build capital markets technology companies: the talent is there, buyers are primed, and the workflows and datasets remain relatively insulated from the AI labs.
Read Marc's full perspective here: oakhcft.com/blog-post/the-ca…
Apr 29
For a long time, the conventional wisdom was that capital markets technology was a graveyard for venture-scale outcomes. Too slow. Too regulated. Too insular.
That narrative is outdated.
I spent the early part of my career on the Goldman Sachs trading floor and watched firsthand as the firm built its own CRM, its own email client, and many other custom tools — massive internal projects defended as strategic necessities.
But today, those decisions would almost certainly never get approved. Three forces are converging at once to make now an incredible time to build and invest in this category:
1. The founders are different. This space is no longer filled with just semi-retired bankers and traders. Young, technical operators are choosing capital markets as the hardest problem set available, with massive upside. I can speak to this directly from experience having invested in and worked closely with 5 teams in this category.
2. Software buyers are ready. Per McKinsey, AI is expected to drive up to 20% in net cost reductions for banks. Financial institutions are buying, not just building.
3. The moats are real. These workflows stitch together dozens of bespoke systems that no general-purpose AI company will elect to integrate. And the public market comps — names like CME, ICE, Tradeweb — show what happens when you win: durable premium valuations across every market cycle.
The best part for all my fellow fintech nerds out there: founders are finding the Toast/Shopify playbook in this market. Sell sticky, recurring software — then earn the right to monetize basis points on massive capital flows.
Check out the full thesis below. If you're building in this space, we at @oakhcft are actively looking to partner -- please get in touch!
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We're proud to lead Courier Health's $50M Series B. Over 30% of patients prescribed specialty therapies never start treatment – not because the medicine isn't there, but because the systems supporting them fall short. Courier's purpose-built platform connects manufacturers, pharmacies, payers, and providers to close that gap, and we couldn't be more excited to partner with Danny Sigurdson and the team to help scale their mission.
Read more: oakhcft.com/blog-post/buildi…
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Is software really dead? Oak HC/FT Venture Partner Duncan Greenberg argues no – but we are in a period of radical recalibration. In his latest blog post, he explains why the bear case on SaaS is overstated and how companies can win by capitalizing on new models of defensibility – particularly in complex, regulated industries.
Read Duncan's full perspective: oakhcft.com/blog-post/is-sof…
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Just in time for Tax Day – we sat down with @BlueJLegal Co-Founder & CEO Benjamin Alarie to discuss how the company has evolved from a directed research project at the University of Toronto into the definitive AI-first operating layer for tax and legal professionals.
By moving beyond simple wrappers and building an architecture that respects the hierarchical logic of the tax code, Blue J now serves more than 5,000 law and accounting firms, with 80% monthly active usage – well above the 15-25% adoption typical of legacy tools.
Read the full Q&A: oakhcft.com/blog-post/blue-j…
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Every generation, step changes in technology enable the creation of new infrastructure layers in healthcare – and we believe clinical capacity is next. Thesis Care is building that layer, pairing AI agents with expert clinicians to expand care team capacity at some of the nation’s largest physician groups. We're leading their $45 million Series A, and couldn't be more excited to keep building alongside Niren Gandra and Aditya Pandyaram.
Read more: oakhcft.com/blog-post/backin…
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We're thrilled that Oak HC/FT is leading Spade's $40M Series B. Spade solves one of fintech's most stubborn infrastructure problems – transforming raw transaction records into verified merchant intelligence in real time, with more than 99% accuracy and 99.9% coverage across U.S. and Canadian merchants. The next decade of fintech will be built by institutions that can see their data in real time, at scale, with enough accuracy to act on it – and we believe Spade is how that happens.
Read more: oakhcft.com/blog-post/the-da…
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Fintech is being fundamentally redefined. What once was about modernizing legacy systems has now expanded into a broader, deeper opportunity at the intersection of technology and money. From how financial decisions are made to how capital flows and risk is managed, the next wave of innovation is happening across the full financial architecture – and Oak is investing boldly in that future.
Today, we’re thrilled to welcome @mandrusko1 as a Partner on our fintech investment team. Marc brings a rare combination of operating experience and investment instinct, with a career spanning capital markets, financial data infrastructure, and AI-era investing that mirrors exactly how we think about where fintech is headed.
His full-stack experience makes him the ideal partner to help lead this charge. Please join us in welcoming Marc!
Read more: oakhcft.com/news/welcoming-m…
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We're proud to lead Turquoise's $40M Series C. Turquoise is transforming healthcare's financial infrastructure – replacing complex contracts and manual workflows with a generative AI-native platform that brings transparency and automation to how payers and providers work together. We've tracked Chris Severn, Adam Geitgey, and the team since 2021, and we couldn't be more excited to partner with them in this next chapter.
Read more: oakhcft.com/blog-post/the-ne…
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Congratulations to @LTMpredict on coming out of stealth and announcing its $255M Series A alongside a strategic partnership with Amazon Web Services (AWS). We’re excited to lead this round and back @fraenkelj and the team as they redefine enterprise decision-making and build the default predictive operating system for the world’s most critical industries.
Read more: oakhcft.com/blog-post/unlock…
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As we start the year, we’re thrilled to share some well-deserved promotions across the Oak HC/FT team. Please join us in congratulating them!
⭐ Felix Schliemann and Neel Baxi promoted to Senior Associate
⭐ Colleen Cozzens promoted to Vice President, Head of Talent, Healthcare
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Oak HC/FT retweeted
Jan 16
Always fun to kick off the year with my annual conversation on @hoh_pod. We talked through my healthcare predictions for the year ahead and what I’m watching as we head into 2026. Thank you to @stephenkraus and Halle Tecco for having me back!
Jan 12
New @hoh_pod episode! This week @stephenkraus and Halle chat with fellow VC @annielamont about 2026 trends from AI and the next wave of enterprise software, to IPO and M&A expectations, and where some VCs are leaning in (or out) this year.
Listen: bit.ly/4qOP6wS
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Oak HC/FT retweeted
Jan 9
We’re thrilled to announce our collaboration with @EliLillyandCo.
We’ll be deploying Chai’s AI models to power biologics discovery across a broad set of drug programs at Lilly.
This is a major step forward in pharma’s adoption of AI-native R&D.
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As we enter 2026, healthcare stands at the intersection of transformation and accountability – with AI moving from experimental to critical infrastructure, and innovation reshaping everything from drug design to how payors and providers collaborate. In our latest blog, Duncan Greenberg outlines the trends we believe will define the year ahead.
Read the full blog here: oakhcft.com/blog-post/five-t…
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We are thrilled to congratulate Maddie Hilal on being named to this year’s @Forbes 30 Under 30: Venture Capital list! We’re proud to have her among the next generation of leaders in venture capital and look forward to all she will accomplish – and the many founders she will support – in the years ahead. Congratulations, Maddie!
See the full list here: forbes.com/30-under-30/2026/…
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