Healthcare startups receive a significant financial boost with the unveiling of Fund II by W Health Ventures, valued at an impressive $70 million.
W Health Ventures Launches Second Fund for Healthcare Innovation
W Health Ventures, a venture capital firm specializing in healthcare innovation, has announced the launch of its second fund with a target corpus of $70 million (Rs 609 crore). Based in Boston and India, the firm was founded in 2019 by serial entrepreneur and philanthropist Sunil Wadhwani.
The firm's strategy remains focused on supporting early-stage startups in the healthcare and healthtech sectors across India and the United States. With Fund II, W Health Ventures intends to deepen its commitment to building businesses from scratch, moving beyond traditional investing.
According to Dr. Pankaj Jethwani, managing partner at W Health Ventures, the firm sees healthcare innovation in India as 10-15 years behind global benchmarks, presenting a generational opportunity. Over the next four years, the firm plans to support eight to ten early-stage startups.
The first investment from Fund II is in Everhope Oncology, a platform jointly incubated with Narayana Health. Everhope Oncology is building solutions in chemotherapy, surgical oncology, diagnostics, and ongoing supportive care, with the aim of standardizing and improving cancer care delivery in India. The partners have jointly invested around $10 million in Everhope Oncology.
The second investment is a psychiatry-focused startup operating in stealth mode, structured as a cross-border, US-India managed services platform. The firm's strategy includes hands-on support in research and development, minimum viable product (MVP) development, go-to-market strategy, and clinical partnerships.
Fund II will lean towards larger bets and deeper involvement in operations. The firm will expand its team with four new senior operating partners to facilitate this. W Health Ventures has already made two investments from its second fund.
The firm's portfolio companies have collectively served more than 25 million patients globally. Among its portfolio are Wysa, BeatO, Mylo, and Nivaan. This startup supports psychiatry clinics in the United States with practice management, outcome tracking, and revenue optimization.
W Health Ventures launched its maiden fund in 2021 and deployed about $43 million across 12 companies. The firm aims to achieve the first close of Fund II in the next couple of months.
The launch of Fund II reaffirms W Health Ventures' commitment to driving healthcare innovation and improving patient outcomes in India and beyond. With its focus on early-stage startups, hands-on support, and strategic investments, the firm is well-positioned to make a significant impact in the healthcare industry.
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