It is targeting to back eight to ten early stage healthtech startups, with an average cheque size of ₹30 Cr to ₹50 Cr each
The second fund is focussed on backing startups operating in longevity and modern preventive health, geriatrics, and chronic pain management
Founded in 2019 by Sunil Wadhwani, W Health has backed 12 startups in India and the US, including Wysa, BeatO, Mylo, Reveal, and BabyMD
Healthtech-focussed VC firm W Health Ventures has marked the first close of its second fund at ₹550 Cr ($60.6 Mn), with ambition to launch and scale businesses in the healthcare sector.
The firm launched the fund in July 2025 with a target corpus of ₹600 Cr. It is targeting to back eight to ten early stage healthtech startups over the next four years, with an average cheque size of ₹30 Cr to ₹50 Cr each.
Speaking with Inc42, W Health Ventures managing partner Pankaj Jethwani mentioned that the Fund II is “a company creation fund.”
“We identify key problem statements, design solutions around them, and build companies to address those gaps. Many of these are platform businesses that already exist in the market but require varying levels of support,” he further explained.
W Health Ventures launched cancer care platform Everhope Oncology via its venture studio 2070 Health in partnership with Narayana Health, in March 2025. The firm infused $10 Mn (about INR 86 Cr) in seed funding via its Fund II, along with the partner healthcare company to open new facilities in Delhi NCR and Mumbai.
In the healthcare space, W Health’s second fund is focussed on exploring opportunities in spaces such as longevity and modern preventive health, geriatrics, and chronic pain management.
Founded in 2019 by Sunil Wadhwani, W Health has backed 12 startups in India and the US, including Wysa, BeatO, Mylo, Reveal, and BabyMD.
“I think the sector that has gotten old is digital health. In our view, technology and AI are not a different sector or sub-sector within health care, but they should be part of every single company… If you’d look at the broader health care sector, it continues to be one of the fastest growing sectors in India, growing 10 to 12% annually, estimated to be between $370 Bn – $400 Bn in contribution to GDP… From a value generation standpoint, the sector is growing very rapidly,” Jethwani said.
The first close of the fund comes at a time when the trend of VCs building businesses from scratch or incubating pre-existing businesses is slowly picking up pace in India. Earlier this week, German VC firm Bertelsmann India Investments (BII) acquired 80% stake in LetsTransportwith an intent to build and scale the startup as its first India based majority-owned, founder-led operating business.
Globally, too, venture capital firms are increasingly moving beyond passive investing to adopt a ‘venture builder’ or company creation model. Firms such as General Catalyst, Andreessen Horowitz and Atomic have backed or built businesses in-house, while others have taken controlling stakes to actively shape strategy and operations.
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