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September 30, 2024 / 2024 Power 25 Health Care

2024 Power 25 Health Care: Annie Lamont

Annie Lamont
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Connecticut’s First Lady Annie Lamont is considered one of the U.S.’ top healthcare investors, according to Forbes, which named her to its 2024 Midas List, a ranking of the world’s top tech investors.

Lamont, who co-founded Stamford-based investment firm Oak HC/FT in 2014, ranked No. 86 on the list, which she has been on five times.

Forbes credited her with making early bets in the healthcare and fintech space, including a roughly 20x return from her 2001 initial investment in AthenaHealth, when the company was sold to two private equity firms 20 years later.

She also invested in an AthenaHealth co-founder’s later venture, Devoted Health, now valued at $12.9 billion. Her initial $20 million investment is worth $1 billion to her and her backers at Oak HC/FT, according to Forbes.

Lamont also made early bets on primary care provider VillageMD.

Lamont said the secret to her sustained success is “an ability to spot and embrace new tech cycles,” the publication reported.

Oak HC/FT is only the latest chapter in her more than 40-year investment career.

She began working as a paralegal at a small law firm after graduating from college in 1979, but quit after six months and took a job at a small venture capital firm in Silicon Valley, according to Forbes.

Later, she joined Oak Investment Partners and established its life sciences and healthcare arm. As the internet gained traction, she pivoted to investing in tech-based healthcare services by 2000.

She appeared on the Midas List for the first time in 2008.

Forbes said her inclusion reflects “the long game approach that Lamont takes to startup investing.”

Recently, Lamont has backed healthcare companies that are focused on generative AI, including Notable, which provides automation tools for patient check-ins and authorizations, and Trovo Health, which sells AI assistants for clinicians.

Forbes estimates Lamont’s net worth at $650 million, ranking her tied for No. 54 on the Self-Made Women List in May.

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