W Health Ventures closes second fund at ₹700 crore, plans to build 8-10 healthcare companies
Unlike a conventional venture fund that primarily invests in existing startups, W Health Ventures said it develops businesses from the idea stage
W Health Ventures, a Mumbai-based healthcare-focused venture capital firm, has successfully closed its second fund at ₹700 crore, exceeding its initial target of ₹630 crore. The fund, named Fund II, will enable the company to build 8-10 healthcare companies from the pre-idea stage to category leaders over the next four years. Dr Pankaj Jethwani, managing partner of W Health Ventures, stated that India is at an inflection point in healthcare, with rising demand and constrained supply creating a structural mismatch.
This mismatch presents an opportunity for lasting businesses to be built, according to Jethwani. Unlike traditional venture funds that primarily invest in existing startups, W Health Ventures develops businesses from the idea stage. The firm's 50-member team focuses on healthcare problems where they believe there is scope for first-to-market solutions.
So far, the firm's Fund II has produced two companies: Everhope Oncology, in partnership with Narayana Health, focusing on coordinated, patient-centered oncology care, and Everbright Health, developing advanced interventions for treatment-resistant depression in the US. With Fund II, W Health Ventures plans to expand its company-creation approach across India and the US-India corridor, aiming to build healthcare companies that solve the gaps standing between a billion people and better health.
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