Press release

Former Venmo COO Michael Vaughan Joins Oak HC/FT as Executive in Residence

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Oak
HC/FT
, a premier venture growth-equity fund investing in
tech-enabled healthcare and financial services companies, announced
today the addition of Michael Vaughan, former Chief Operating Officer of
Venmo, as an Executive in Residence (EIR). In his role, Michael will be
responsible for developing and advising new fintech businesses through a
combination of building from scratch and investing in early- and
growth-stage companies.

As one of Venmo’s earliest employees, Michael led the company from its
Series A funding round in 2011 through two strategic acquisitions to
PayPal’s recent announcement that Venmo reached 40 million active users
in Q1 2019 with a $300 million annual revenue run rate and is on pace to
process $100 billion in payments in 2019.

“Mike led the Venmo team for eight years and through many transformative
events, all while maintaining its startup and high growth culture,” said
Patricia Kemp, Co-Founder & General Partner at Oak HC/FT. “His
outstanding experience leading high growth businesses makes him an
exceptional addition to Oak HC/FT as we continue to build and invest in
companies leveraging technology to solve pain points in financial
services.”

“Oak HC/FT has a great reputation among investors and entrepreneurs,”
said Michael Vaughan. “I’m excited to have the opportunity to work with
this amazing team and the next wave of innovative founders and companies
changing the industry.”

Prior to Venmo, Michael played a pivotal role in growing innovative
companies in the wireless space, financial services industry and event
ticketing market. He earned his undergraduate degree from The Wharton
School at the University of Pennsylvania.

About Oak HC/FT

Founded in 2014, Oak HC/FT (http://oakhcft.com)
is the premier venture growth-equity fund investing in Healthcare
Information & Services (“HC”) and Financial Services Technology (“FT”).
With $1.1 billion in assets under management, we are focused on driving
transformation in these industries by providing entrepreneurs and
companies with strategic counsel, board-level participation, business
plan execution and access to our extensive network of industry leaders.
Oak HC/FT is headquartered in Greenwich, CT, with offices in Boston and
San Francisco. Follow Oak HC/FT on TwitterLinkedIn,
and Medium.