W Health to Double Down on India-US Health Startups with $100Mn Fund II

The fund will continue its focus on early-stage healthcare startups across India and the US, backing companies from seed to Series B.

Delhi-based venture capital firm W Health Ventures is nearing the first close of its second fund worth $100 million, with a formal announcement expected in the coming week.

The fund will continue its focus on early-stage healthcare startups across India and the US, backing companies from seed to Series B.

The new fund, nearly double the size of its predecessor, will write cheques ranging from $1 million to $5 million and may co-invest in larger rounds alongside other investors. It will also selectively participate in Series B rounds of companies building for both domestic and global markets, as reported by LiveMint.

“W Health Ventures is at a pivotal stage in its growth. We are currently raising our Fund II, and in the coming weeks, we will share updates on the fundraise and key leadership appointments made over the past year,” Pankaj Jethwani, Managing Partner, W Health Ventures.

Further, the fund is expected to deepen the firm’s company creation model, which blends investment and incubation through its venture studio. The approach, he said, showed strong results in Fund I and will be scaled further in Fund II.

Founded in 2019 by Sunil Wadhwani, W Health focuses on AI-led services and single-specialty healthcare delivery models. Its India portfolio includes startups like Wysa Health (diabetes & mental health), 2070 Health (venture studio), and Good Health Company (sexual wellness).

In the US, it has backed companies including mental health startup Wysa and cancer support platform Jasper.

Meanwhile, Namit Chugh, a Principal at the firm, has resigned and is currently serving his notice period, the people cited above confirmed.

The new fund comes at a time when early-stage healthtech funding in India is seeing a correction $3 billion in 2024, down from $4 billion in 2023, per Tracxn estimates.

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