Venture capital firm, W Health Ventures, introduces a $70 million fund, dubbed Fund II, aimed at providing financial backing to innovations in the healthcare sector for startups.
In a significant move, W Health Ventures, a venture capital firm based in Boston and India, has announced the launch of its second fund with a target corpus of $70 million (Rs 609 crore). The firm, which is structured as a cross-border, US-India managed services platform, aims to support eight to ten early-stage startups over the next four years.
Founded in 2019 by serial entrepreneur and philanthropist Sunil Wadhwani, W Health Ventures has already made strides in the healthcare and healthtech sectors. In its maiden fund, the firm deployed about $43 million across 12 companies, including Wysa, BeatO, Mylo, and Nivaan.
One of the investments from Fund II is a psychiatry-focused startup operating in stealth mode. The firm's focus on backing early-stage startups extends across India and the United States, with a thesis that leverages India’s engineering and clinical talent to power global healthcare delivery.
Another significant investment is Everhope Oncology, a platform for standardizing and improving cancer care delivery in India. This joint venture with Narayana Health sees the partners investing around $10 million. Everhope Oncology is building solutions in chemotherapy, surgical oncology, diagnostics, and ongoing supportive care.
Dr. Pankaj Jethwani, managing partner at W Health Ventures, stated that healthcare innovation in India remains 10-15 years behind global benchmarks. With Fund II, W Health Ventures intends to deepen its commitment to building businesses from scratch, moving beyond traditional investing.
The new fund will lean towards larger bets and deeper involvement in operations. To facilitate this, the firm will expand its team with four new senior operating partners: Ashish Singh, Dr. Prakash Patel, and Ajay Sondhi, with Mahadevan 'Mahad' Narayanamoni joining as an Investment Committee member and advisor.
W Health Ventures plans to support startups not just financially, but also through hands-on support in research and development, minimum viable product (MVP) development, go-to-market strategy, and clinical partnerships. The firm is targeting the first close of Fund II in the next couple of months.
The portfolio companies of W Health Ventures have collectively served more than 25 million patients globally. With the launch of Fund II, the firm is poised to make a significant impact in the healthcare and healthtech sectors, particularly in segments such as oncology, psychiatry, geriatric care, longevity, and preventive health.
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