W Health Ventures Announces First Close of ₹550 Cr Fund II to Build Healthcare Startups

W Health Ventures has announced the initial close of its second fund at ₹550 crore, with a target corpus of ₹630 crore, as it doubles down on its company creation model to launch and scale healthcare ventures across India and the US-India corridor.

This early-stage venture capital firm focuses on building healthcare companies from scratch by partnering with founders, clinicians, and operators. The funding comes at a time when India’s healthcare system faces a rising burden of chronic disease, increasing health awareness, and a widening gap in specialist care and infrastructure.

“We work with founders, clinicians, operators, and strategic partners to co-found companies from inception. We identify underserved clinical and operational whitespaces, assemble founding teams, and support execution through shared playbooks, partnerships, and an experienced platform team. Our portfolio companies impact over 25 million individuals globally, and we aim to scale this to a billion lives over the next two decades,” said Dr Pankaj Jethwani, Managing Partner at W Health Ventures.

Under Fund II, the firm plans to build and scale eight to 10 new healthcare companies over the next four years, investing ₹30-50 crore in each incubation. It has already begun deploying capital from the fund.

The first company launched under Fund II is Everhope Oncology, a national oncology platform co-founded with Narayana Health. The platform aims to integrate global advances in oncology into coordinated, patient-centred cancer care from diagnosis through recovery.

Moreover, W Health Ventures is incubating a stealth venture focused on enabling psychiatry clinics in the US to scale advanced treatments for patients with treatment-resistant depression. The firm is also exploring opportunities in longevity and preventive health, geriatrics, and chronic pain management.

Fund I portfolio companies include Nivaan (chronic pain), BeatO (diabetes), ElevateNow (obesity), BabyMD (paediatrics), and Mylo (parenting) in India, as well as cross-border ventures such as Wysa (AI mental health services) and Reveal HealthTech (AI transformation services). All companies under Fund I have raised external growth capital.

“We are grateful to our limited partners for their trust and support. Across the fundraising journey, they were supportive of our ability to build generational healthcare companies from the ground up in critical areas of care that make a real difference for patients,” said Gaurav Porwal, Partner at W Health Ventures.

W Health Ventures has invested in 12 companies across India and the US and operates alongside its venture studio, 2070 Health, to incubate new healthcare startups.