W Health Ventures announces first close of its second fund at Rs 550 crore to support healthcare startups

Early-stage healthcare-focused venture capital firm W Health Ventures has announced the initial close of Fund II at Rs 550 crore, aiming toward a target of Rs 630 crore.

The firm said it will continue to double down on its company creation model by building and scaling healthcare companies from scratch in India and across the US-India corridor.

“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.

W Health Ventures’ Fund I portfolio companies include Nivaan (chronic pain), BeatO (diabetes), ElevateNow (obesity), BabyMD (paediatrics), and Mylo (parenting) in India, along with cross-border companies like Wysa (AI mental health services) and Reveal HealthTech (AI transformation services).

Notably, all Fund I companies have raised external growth capital. With Fund II, W Health Ventures expects to take larger, bolder bets on company creation.

The firm plans to build and scale 8 to 10 new startups over the next four years, investing Rs 30 to 50 crore in each incubation. W Health Ventures has begun deploying capital from its second fund.

Everhope Oncology, the first startup from Fund II, is a national oncology platform founded with Narayana Health to reimagine cancer care in India. The startup is integrating global advances in oncology into coordinated, patient-centered care from diagnosis through recovery. A stealth incubation is helping psychiatry clinics in the US to launch and scale advanced treatments for patients with treatment-resistant depression.

The fund is currently exploring opportunities in spaces such as longevity and modern preventive health, geriatrics, and chronic pain management.

“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.