Congratulations to our portfolio company NextCapital for raising their $30m Series C! We're incredibly excited to have new lead investor Oak HC/FT on board to complement the existing investor base. NextCapital's journey to reinvent the U.S. retirement industry is just getting started.
“Retirement and asset management firms are selecting NextCapital as a technology partner because of its ability to provide a truly differentiated digital advice solution,” added Alois Pirker, research director of Aite Group. “More specifically, large institutions want to utilize their own proprietary investment methodology, have full control of user experience, integrate to multiple 401(k) record keeping systems, and often, support multiple business channels.” Patricia Kemp has 15 years of experience as a venture capitalist investing in transformative companies and entrepreneurs in financial services and FinTech, will join the NextCapital Board of Directors. Additionally, Oak HC/FT venture partner Dan Petrozzo, will join NextCapital as a Board Observer. Prior to joining Oak HC/FT, Dan was previously Chief Information Officer of Fidelity Investments and Morgan Stanley, as well head of investment management technology for Goldman Sachs.