W Health Ventures closes Fund II at Rs 700 Cr
W Health Ventures has closed its second fund at Rs 700 crore, exceeding its Rs 630 crore target, as the healthcare-focused VC firm looks to invest in 8-10 startups over the next four years.
W Health Ventures (WHV), a healthcare-focused venture capital firm, has closed its second fund at Rs 700 crore, exceeding its initial target of Rs 630 crore.
The firm plans to deploy the capital across 8-10 healthcare startups over the next four years.
"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," said Pankaj Jethwani, Managing Partner at W Health Ventures.
The VC firm has already made two investments through Fund II—Everhope Oncology and Everbright Health. It has a 50-member in-house team comprising physicians, operators, and technologists that works to identify gaps in the healthcare sector and assess potential investment opportunities.
Founded in 2020, W Health Ventures invests across the US-India healthcare corridor and typically deploys Rs 30-50 crore across two to three startups each year. Its portfolio includes Elevate Now, Nivaan, and Hoola Health. The firm has offices in Mumbai, Bengaluru, Delhi, and Boston.
W Health Ventures said its portfolio companies have collectively reached 25 million patients.
"We're not importing a Silicon Valley playbook and hoping it works here. We go to the parts of the healthcare system where the structural mismatch is the highest, and we stay with that problem for a year, sometimes longer, chipping away at it before we build anything,” Jethwani said.