Money20/20 founders Anil Aggarwal and Jonathan Weiner have joined with Oak Investments on the launch of a $500 million healthcare information and fintech venture fund.
The new fund, Oak HC/FT Partners, was established by the leaders of the healthcare and fintech investment team at the US-based private equity house.
The $500 million Oak HC/FT Fund, which closed in June, is led by Ann Lamont, Andrew Adams and Patricia Kemp, who will be looking to capitalise on the new investment opportunities opening up in the booming healthcare and fintech startup sectors in the US and Europe.
Annie Lamont, managing partner, says: "Global technology innovations, cost pressures and regulatory changes are creating unprecedented opportunities in the Healthcare and FinTech sectors. We are excited to further this transformational growth and build on our significant investment legacy."
In the fintech field, Oak Investments has turned to Aggarwal and Weiner to help advise on prospects. The three have a shared previous history. Before joining with Aggarwal to launch the annual Money20/20 show, Weiner was global head of business development for Google Wallet, which acquired TxVia, a mobile payments technology company that was chaired by Aggarwal and included Oak Investments as one of its principal backers.