July 31, 2025

W Health Ventures, a prominent venture capital firm based in Boston and India, has announced the launch of its second fund, with a target of $70 million (approximately ₹600 crore) and a hard cap of $100 million (around ₹850 crore). Founded by Sunil Wadhwani, a serial technology entrepreneur, investor, and philanthropist, the firm aims to transform the healthcare landscape by focusing on both the development of new companies and the support of existing platforms. The firm’s approach is centered on creating healthcare businesses from the ground up. This unique strategy, termed 'company creation,' proved successful with their initial fund, which reached over 25 million patients worldwide. Looking ahead, W Health Ventures plans to scale its operations by establishing 8 to 10 new companies over the next four years, further emphasizing their commitment to innovation in the healthcare sector. “We’re in an evergreen sector that will continue to grow at a reasonable pace for the next 20 years,” explained Dr. Pankaj Jethwani, managing partner at W Health Ventures. He highlighted that healthcare innovation in India lags behind global standards by about 10 to 15 years, presenting a generational opportunity for growth and investment. As part of the preparations for Fund II, W Health has already identified two investments. One notable investment is Everhope Oncology, a $10 million joint venture with Narayana Health, designed to enhance cancer care in India through advanced diagnostics, innovative therapies, and decentralized treatment centers. This reflects the firm’s commitment to introducing pioneering solutions that cater to critical health issues in the region. Additionally, W Health has also invested in a managed services platform for psychiatric care based in the United States, which is currently operating in stealth mode. This strategic dual investment underscores their broadening focus on mental health and cancer treatment, both crucial areas in healthcare. To bolster their operational capabilities, W Health Ventures is enhancing its leadership by adding four new senior operating partners who will provide expert guidance in specific areas such as offline healthcare operations, artificial intelligence-enabled services, and strategies for entering the US market. This move signals the firm’s intention to execute its vision more effectively and adapt to current market demands. In further detailing the firm’s strategy, Jethwani noted that they are focusing on two key themes: firstly, single-specialty care delivery platforms in India, and secondly, cross-border, AI-enabled B2B healthcare services. He emphasized that a significant portion of healthcare spending in India still occurs offline, indicating a substantial opportunity for growth. The firm aims to build companies that are accessible to patients while utilizing India’s rich clinical and engineering talent to create healthcare services that can compete in global markets. W Health Ventures previously launched its first fund in 2021, successfully deploying about $43 million across 12 companies, including notable names like Mylo, BeatO, Wysa, Reveal HealthTech, and Nivaan Care. The performance of these investments provides a strong foundation for their new endeavors. Jethwani expressed confidence in the healthcare sector, describing it as one of the most robust investment categories in India today. He reiterated that W Health is not simply a healthtech fund but a dedicated healthcare fund, committed to building companies that can genuinely elevate the standard of care for millions of patients in India and beyond. With the launch of Fund II, W Health Ventures aims to leverage its expertise and resources to drive significant improvements in healthcare delivery, ultimately aiming to close the innovation gap and enhance access to quality healthcare services for underserved populations.

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Tags: W health ventures, Venture capital, Healthcare innovation, Investment,