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Oak HC/FT has raised $600 million for its second fund. This is the VC and growth equity firm focused on healthcare and financial technology, which spun out of legacy Oak Investment Partners back in 2014. The new fund is a bit larger than the firm's $500 million debut vehicle, which is partially a reflection of wanting to bring in some new strategic limited partners, like an association for retirees and some insurance companies.

Risk management: Oak HC/FT appears on first glance one of the few non-biotech VC firms that directly aims at regulated industries, although it mitigates such risk on the healthcare side by not going after anything with binary FDA or reimbursement risk.

Fintech future: There has been talk that fintech startups may soon face M&A challenges because Trump-era deregulation could remove a lot of the banking sector's incentive to innovate. But Oak HC/FT partner Tricia Kemp isn't worried: "I'd argue that the digitization of payments and transactions and needing to know your customers -- in terms of things like anti-money laundering -- are only going in one direction. Trump is mainly talking about capital requirements for banks, which could possibly affect the direct lending space, but not most of fintech."

Go deeper

13 hours ago - World

Maximum pressure campaign escalates with Fakhrizadeh killing

Photo: Fars News Agency via AP

The assassination of Mohsen Fakhrizadeh, the architect of Iran’s military nuclear program, is a new height in the maximum pressure campaign led by the Trump administration and the Netanyahu government against Iran.

Why it matters: It exceeds the capture of the Iranian nuclear archives by the Mossad, and the sabotage in the advanced centrifuge facility in Natanz.

Scoop: Biden weighs retired General Lloyd Austin for Pentagon chief

Lloyd Austin testifying before Congress in 2015. Photo: Chip Somodevilla/Getty Images

Joe Biden is considering retired four-star General Lloyd Austin as his nominee for defense secretary, adding him to a shortlist that includes Jeh Johnson, Tammy Duckworth and Michele Flournoy, two sources with direct knowledge of the decision-making tell Axios.

Why it matters: A nominee for Pentagon chief was noticeably absent when the president-elect rolled out his national security team Tuesday. Flournoy had been widely seen as the likely pick, but Axios is told other factors — race, experience, Biden's comfort level — have come into play.

Updated 15 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: Supreme Court backs religious groups on New York COVID restrictions.
  3. World: Thailand, Philippines sign deal with AstraZeneca for vaccine.
  4. Economy: Safety nets to disappear in December Black Friday shopping across the U.S., in photosAmazon hires 1,400 workers a day throughout pandemic.
  5. Education: National standardized tests delayed until 2022.