Healthcare-focused venture capital firm W Health Ventures has announced the initial close of its second fund at ₹550 crore, with a target corpus of ₹630 crore. With Fund II, the firm plans to double down on its distinctive company-creation model, building and scaling healthcare startups from the ground up across India and the US-India corridor.
Founded in 2021, W Health Ventures was set up on the belief that India’s healthcare challenges require purpose-built companies designed around clinical innovation and scalable, technology-first operating models. The healthcare ecosystem, particularly in India, is at a critical juncture. Rising chronic disease burden, increasing health awareness, and evolving consumer expectations are driving demand for accessible and reliable care. At the same time, the supply side remains constrained, especially in specialist care, with shortages of doctors and infrastructure continuing to widen the gap.
“We work with founders, clinicians, operators, and strategic partners to co-found companies from inception,” said Dr Pankaj Jethwani, Managing Partner at W Health Ventures. He added that the firm identifies underserved clinical and operational white spaces, builds founding teams, and supports execution through shared playbooks, partnerships, and an experienced platform team. According to him, the firm’s portfolio companies currently impact over 25 million individuals globally, with a long-term ambition to scale that impact to a billion lives over the next two decades.
W Health Ventures’ Fund I portfolio includes Indian healthcare startups such as Nivaan (chronic pain), BeatO (diabetes), ElevateNow (obesity), BabyMD (paediatrics), and Mylo (parenting), along with cross-border ventures like Wysa (AI-based mental health services) and Reveal HealthTech (AI transformation services). Notably, all Fund I companies have gone on to raise external growth capital.
With Fund II, the firm intends to take larger and more ambitious bets. Over the next four years, W Health plans to build and scale 8 to 10 new companies, investing between ₹30 crore and ₹50 crore in each incubation.
The firm has already begun deploying capital from Fund II. The first company out of the new fund is Everhope Oncology, a national oncology platform founded in partnership with Narayana Health. The platform aims to reimagine cancer care in India by integrating global advancements in oncology into coordinated, patient-centric care, from diagnosis through recovery.
Additionally, W Health is incubating a stealth venture focused on enabling psychiatry clinics in the US to scale advanced treatments for patients with treatment-resistant depression. The fund is also actively exploring opportunities in emerging areas such as longevity and preventive health, geriatrics, and chronic pain management.
“We are grateful to our limited partners for their trust and support,” said Gaurav Porwal, Partner at W Health Ventures. He noted that investors backed the firm’s ability to build generational healthcare companies from scratch in critical areas that can meaningfully improve patient outcomes.
To date, W Health Ventures has invested in 12 companies across India and the US. In addition to direct investments, the firm works closely with its venture studio, 2070 Health, to incubate new healthcare businesses such as Nivaan Care.
As healthcare continues to evolve rapidly, W Health Ventures is positioning itself not just as an investor, but as a co-creator of the next wave of healthcare companies designed to address structural gaps in care delivery at scale.
-By Shivani Solanki
