W Health Ventures Closes Second Fund at INR 700 Cr, Eyes Company Incubation

The fund plans to build 8-10 healthcare companies from the pre-idea stage to category leaders over the next four years.

Healthcare-focused venture firm W Health Ventures (WHV) has closed its second fund at INR 700 crore, oversubscribing its initial target of INR 630 crore.

The fund plans to build 8-10 healthcare companies from the pre-idea stage to category leaders over the next four years.

The capital is expected to be deployed as seed funding across healthcare startups incubated by W Health Ventures.

W Health follows a company-creation model, where its in-house team of physicians, operators, and technologists identifies gaps in healthcare delivery and spends 12-18 months evaluating and de-risking an opportunity before bringing in a founding team.

Under the model, W Health Ventures typically invests INR 30 to INR 50 crore in each startup and aims to build two to three new businesses every year.

The firm said the approach is designed for healthcare segments where conventional startup models may not work because of complex clinical, regulatory, and operational requirements.

Commenting on the latest development, Dr. Pankaj Jethwani, Managing Partner at W Health Ventures, said, "India is at an inflection point in healthcare as the rising demand and constrained supply create a structural mismatch. That mismatch is where lasting businesses are built. What keeps most people away isn't the opportunity; it's how hard healthcare is to build in. We think that is precisely where the value is.”

"We build companies to solve these seemingly impossible problems, the ones that actually need first-to-market solutions, because that's where population-scale change lives," said Jethwani.

The Fund II will focus on solving large, underserved healthcare problems where first-mover solutions can create population-scale impact.

Founded in 2020, W Health Ventures has built numerous startups, including Elevate Now, Nivaan, Hoola Health, and Everhope Oncology.

The firm currently operates offices across Mumbai, Bengaluru, Delhi, and Boston and has backed 12 startups in India and the US through its first fund, including Wysa, BeatO, Mylo, Reveal, and BabyMD.

In addition, Fund II has already launched two startups. Everhope Oncology, built in partnership with Narayana Health with funding of $10 million, focuses on coordinated, patient-centric cancer care.

Meanwhile, Everbright Health, launched in 2025, is a tech-enabled platform focused on developing treatments for treatment-resistant depression in the US, with $7 million in funding from W Health Ventures and Sanos Capital.

Further, Fund II is intended to expand the firm’s company creation fund approach across India and the US.

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