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Time of India
17 hours ago
- Business
- Time of India
W Health Ventures targets $70 million Fund II to build healthcare startups
Academy Empower your mind, elevate your skills US venture capital firm W Health Ventures is looking to raise $70 million, or about Rs 610 crore, for its second India-focused fund to back healthcare startups in the fund will support the development of eight to ten seed and early-stage healthcare companies over the next four years, in partnership with 2070 Health, a healthcare venture studio, W Health Ventures managing partner Pankaj Jethwani told ET.W Health plans to invest Rs 26-40 crore ($3-5 million) per company, with additional capital reserved for follow-ons, he company-creation model offers infrastructure, capital, and operational know-how from the incubation stage.'The company creation model is particularly suited for healthcare due to the sector's inherent challenges, such as its slow pace of change, heavy regulation, and complexity,' Jethwani said. 'This approach helps founders overcome bottlenecks by leveraging the fund's data, relationships, playbooks, and teams to build companies from zero to one.'Fund II will focus on two core themes: single-specialty care delivery platforms and AI-enabled business-to-business (B2B) healthcare first theme will back startups offering high-quality, efficient care in specific medical second will target B2B companies catering to the growing demand from US-based healthcare firms for technology solutions powered by India's clinical and engineering talent pool. These startups are expected to use automation and artificial intelligence (AI) to drive operational efficiency for international clients.'AI is no longer optional when building a company, including in healthcare, though it doesn't always have to be the primary product,' Jethwani said. 'The technology is crucial for embedding convenience and high-quality care at every step.'W Health has already begun deploying capital from the new first investment from Fund II was in EverHope Oncology, which raised $10 million in a seed round. W Health led the round in partnership with Narayana Health and 2070 Health, as reported by ET.W Health's first fund of around $50 million backed startups such as AI-enabled mental health platform Wysa; Elevate Now, a medical weight-loss programme; and Kins, a US-based virtual and home-based physical therapy platform. Its other investments included startups in paediatric care and pain in 2019, W Health has backed companies across various healthcare domains, including digital health, chronic disease management, and mental has seen a rise in sector-specific venture capital funds that focus on defined themes such as healthtech, deeptech, cleantech, and consumer tech. Examples include Java Capital, which backs deeptech and climate tech startups; Avaana Capital, focused on consumer, food and agritech; and Delhi-based Sauce VC, which invests in consumer brands.
Time of India
17 hours ago
- Business
- Time of India
W Health Ventures targets $100 million second fund
W Health Ventures team (L-R) Dr Pankaj Jethwani (executive VP & managing partner), Gaurav Porwal (partner & chief operating officer) and Bhavesh Hemani (chief financial officer) BENGALURU: W Health Ventures, founded by serial technology entrepreneur, investor and philanthropist Sunil Wadhwani, has launched its second fund targeting $70 million (RS 600 crore) with a hard cap of $100 million (Rs 850 crore). The healthcare-focused venture capital firm, which operates in Boston and India, expects to announce the fund's first close later this quarter. Fund II will double down on W Health's 'company creation' approach, which is building and scaling healthcare businesses from the ground up while backing existing platforms. The model, which the firm says helped its first fund's portfolio reach over 25 million patients globally, will now be expanded with plans to build eight to ten companies over the next four years. 'We're in an evergreen sector that will continue to grow at a reasonable pace for the next 20 years,' Dr. Pankaj Jethwani, managing partner at W Health Ventures, told TOI. 'Healthcare innovation in India remains 10-15 years behind global benchmarks. That gap is a generational opportunity.' The firm has already warehoused two investments for Fund II. These include Everhope Oncology, a $10 million joint venture with Narayana Health aimed at reimagining cancer care in India by introducing advanced diagnostics, breakthrough therapies and decentralised treatment centres, and a US-based managed services platform for psychiatric care that operates in stealth. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Europe's 30 Most Beautiful Hidden Coastal Towns – Ranked by Travel Lovers Learn More Undo W Health will also strengthen its leadership with four new senior operating partners who will provide hands-on expertise in areas such as offline healthcare operations, AI-enabled services and US go-to-market. Jethwani said the firm's strategy is built on two themes: single-speciality care delivery platforms in India and cross-border, AI-enabled B2B healthcare services. 'Most of healthcare spend in India still happens offline,' he told TOI. 'We are focused on building companies that meet patients where they are while also leveraging India's clinical and engineering talent to power healthcare services for global markets. ' W Health launched its first fund in 2021, deploying about $43 million across 12 companies, including Mylo, BeatO, Wysa, Reveal HealthTech and Nivaan Care. Jethwani added that healthcare has been among the strongest-performing investment categories in India. 'We're not a healthtech fund, we're a healthcare fund. We are here to build companies that can truly change the standard of care for millions of patients.' Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Mint
18-07-2025
- Business
- Mint
W Health Ventures set to close $100 mn fund II for early-stage healthcare bets in India and US
Next Story Sowmya Ramasubramanian W Health is also witnessing a leadership churn. Namit Chugh, a principal at the firm, has resigned from the post and is currently serving his notice W Health Ventures's new fund will continue to back startups at the seed and Series A stages, with cheque sizes of $1 million-$5 million. (Image: Pixabay) Gift this article Bengaluru: Delhi-based venture capital firm W Health Ventures is likely to announce the first close of its second fund of $100 million in the coming weeks, according to two people aware of the development. The new fund will double down on early-stage healthcare investments in companies across India and the US. Bengaluru: Delhi-based venture capital firm W Health Ventures is likely to announce the first close of its second fund of $100 million in the coming weeks, according to two people aware of the development. The new fund will double down on early-stage healthcare investments in companies across India and the US. The new fund will continue to back startups at the seed and Series A stages, with cheque sizes of $1 million-$5 million and will participate in larger rounds with co-investors. "W Health Ventures is at a pivotal stage in its growth. We are currently raising our fund II, and in the coming weeks, we will share updates on the fundraise and key leadership appointments made over the past year," W Health's managing partner Pankaj Jethwani said in response to Mint's queries. W Health's new fund is a positive development for early-stage deals as funding softened to $3 billion in 2024, down from $4 billion in the previous year, according to estimates by Tracxn. The firm will also make Series B investments 'selectively" with emphasis on healthcare businesses that are being built for both domestic and global markets. 'The upcoming fund will continue our focus on early-stage healthcare innovation. We will also selectively back Series A and B companies that align with our thesis," Jethwani added. 'Our core thesis remains consistent: to build generational healthcare companies from scratch in India and beyond. The company creation model demonstrated strong results in Fund I, and we look forward to extending that approach through Fund II." A company creation model is a mix of investing in and incubating companies through its venture studio. The firm, founded in 2019 by Sunil Wadhwani, mostly backs single-specialty healthcare delivery and AI-enabled services. Its India portfolio includes diabetes management platform Wysa Health, healthcare-focused venture studio 2070 Health, and sexual health and wellness provider Good Health Company. In the US, it has backed seven companies, including AI-led mental health startup Wysa and cancer support program Jasper. Also Read | Wipro's venture arm bets bigger on mature consumer startups Senior exit Meanwhile, Namit Chugh, a principal at the firm, has resigned from the post and is currently serving his notice, according to the two people quoted above. W Health's Jethwani confirmed the development. Chugh served the role for a little over four years and is counted among the early members of W Health. Prior to joining W Health Ventures, he worked as an associate at Lok Capital (backer of Akshayakalpa Organics and Mintifi), where he made investments across sectors. He has also worked with consulting firms such as Alvarez & Marsal and PwC in the past and focused on strategy and commercial due diligence assignments for private equity clients. Chugh's move comes at a time when the venture capital ecosystem is witnessing a churn. While some senior fund managers are moving out to set up their own ventures, others are looking for better titles and pay. In February, Peak XV's managing directors Abheek Anand and Shailesh Lakhani left the venture capital firm, almost two years after it broke ties with its US partner Sequoia Capital. In November last year, early-stage firm co-founder and partner, Shashank Randev, quit to form his own venture, 247VC. Raj Dugar, managing partner at Eight Roads Ventures, also stepped down last year following a 17-year stint. Topics You May Be Interested In Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
