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Today Oak Investment Partners announced the launch of Oak HC/FT, a healthcare and financial tech investment firm that quietly closed an inaugural $500 million fund in June.

In an official release, Oak says that Oak HC/FT is the result of its interest in developing “sector-specific funds.” Oak HC/FT is “affiliated with Oak” but “operates separately,” the firm explains on its site. The new entity is led by Oak executives Ann H. Lamont, Andrew W. Adams, and Patricia F. Kemp.

News of the raise leaked in June, although at the time the price was set at $400 million.

At the very least, the new fund will pump more capital into the health-tech market — a sector that continues to grow (in hype, not necessarily revenue) as tech giants like Apple and Google race to establish consumer health tech platforms.

Founded in 1978, Oak has invested in quite a few tech and media startups to date, including Thrillist, Hipmunk, and FreshBooks.

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