The 4-12 Hz oscillations have been predominantly studied in the dorsal hippocampus where they appear to be strongly correlated with movements and explorative behavior. However, moving along the septotemporal axis theta activity during movements is reduced in power and desynchronized from the dorsal part. In fact, theta activity can also be generated in the ventral hippocampus itself in anxiety, stress and fear-related behaviors. These functional differences are similarly reflected in local hippocampal circuit properties and anatomy. We found a specific subpopulation of oriens-lacunosum moleculare (OLM) interneurons expressing nicotinic acetylcholine receptor α2 subunit (Chrna2) differentially distributed along the dorso-ventral hippocampal axis, OLMα2 cells. The activation of OLMα2 cells is sufficient to induce theta activity in anesthetized mice and it is abolished by the application of atropine. While the induced theta rhythm did not affect frequency ranges related to animals movements (8-10 Hz), it significantly influenced lower frequency range, 6-8 Hz. It has been suggested that the low range theta activity corresponds to type 2 theta and is associated with innate responses to the predator smell. We conducted this test and observed that OLMα2 cells stimulation leads to a significant increase of mice risk-taking behavior. In summary, our data suggest that vHipp OLMα2 cells control hippocampal type 2 theta activity and innate anxiety responses to predator odor.