W Health Ventures has launched a $70 million second fund to build and scale healthcare startups in India, doubling down on its strategy of incubating companies from the ground up.
The Boston- and India-based venture capital firm said Fund II will back eight to ten companies over the next four years. The focus will be on single-speciality care delivery models tailored for Indian clinical needs, and AI-powered B2B healthcare services aimed at markets in the United States.
The fund comes amid growing demand for tech-enabled, patient-centric care.
India’s $370-billion healthcare industry is at an inflection point, driven by a shift in domestic expectations and global interest in healthcare innovation from the country. However, structural challenges—including regulatory complexity, clinical inertia, and entrenched provider networks—continue to hinder the pace of innovation. W Health aims to address these gaps through its company-creation model, built in partnership with venture studio 2070 Health.
“Healthcare innovation in India remains 10–15 years behind global benchmarks. This gap is a generational opportunity,” said Dr Pankaj Jethwani, Managing Partner at W Health Ventures. “We are focused on building category-defining companies from scratch—by design, not by chance.”
The new fund has already begun deploying capital. Its first disclosed investment, EverHope Oncology, seeks to reimagine cancer care in India with modern outpatient centres and global-standard protocols. The company received a $10 million ‘day-zero’ investment led by hospital chain Narayana Health.
W Health’s Fund I investments serve more than 25 million patients worldwide. Investments include India-focused platforms such as Nivaan Care (chronic pain), BeatO (diabetes), and BabyMD (pediatrics), as well as global health-tech startups such as Wysa and Reveal HealthTech.
Founded with a mission to address unmet healthcare needs through early-stage investing, W Health Ventures is among the growing number of firms betting on India’s potential to deliver both large-scale healthcare solutions and globally exportable innovations.
The firm’s model emphasises close operational involvement, with dedicated startup infrastructure, founder support, and access to clinical networks embedded from inception. Its second fund seeks to capitalise on that foundation to accelerate innovation across both Indian and international healthcare systems.
Feature image: Team W Health Ventures (L to R) — Dr Pankaj Jethwani, Executive VP & Managing Partner; Gaurav Porwal, Partner & Chief Operating Officer; & Bhavesh Hemani, Chief Financial Officer
Edited by Swetha Kannan
