Healthcare-focused venture firm W Health Ventures (WHV) has closed its second fund at Rs 700 crore, exceeding its initial target of Rs 630 crore as it looks to build new healthcare companies across India and the US-India corridor.
The firm plans to build 8–10 healthcare companies over the next four years, taking them from the pre-idea stage to category leaders.
Unlike a traditional venture capital model, W Health Ventures follows a company-creation approach. Its in-house team of physicians, operators and technologists identifies gaps in healthcare delivery and works on evaluating potential opportunities before bringing in a founding team.
The firm typically spends 12–18 months evaluating and de-risking an opportunity before moving ahead with a founding team. Under Fund II, WHV plans to invest Rs 30–50 crore in each company and build 2–3 companies every year across India and the US-India corridor.
Two Companies Already Launched
W Health Ventures has already launched two companies through its second fund.
One of them is Everhope Oncology, which has been built in partnership with Narayana Health. The company is focused on improving cancer care through a coordinated and patient-centric approach.
The second company, Everbright Health, is being developed in the US and is focused on treatments for treatment-resistant depression.
These companies reflect WHV’s broader approach of identifying healthcare gaps and building businesses around areas where existing solutions may not adequately address patient needs.
Focus on Underserved Healthcare Problems
According to W Health Ventures, its portfolio companies have reached 25 million patients to date.
With Fund II, the firm plans to focus on large and underserved healthcare problems where first-mover solutions can potentially create impact at population scale.
The firm’s company-creation model allows it to work on an opportunity before a founding team is brought in, giving its internal team time to understand the healthcare problem, test the opportunity and reduce early-stage risks.
Building on Its Healthcare Portfolio
Founded in 2020, W Health Ventures has built companies including Elevate Now, Nivaan, Hoola Health and Everhope Oncology.
The firm operates across multiple locations, with offices in Mumbai, Bengaluru, Delhi and Boston.
With its second fund now closed at Rs 700 crore, W Health Ventures is looking to continue its focus on building healthcare businesses from the ground up, with investments planned across India and the US-India corridor over the next four years.
-By Shivani Solanki
