Health investment firm W Health Ventures deploying $70 million for ventures in healthcare sector startup ecosystem
W Health Ventures, a venture capital firm based in Boston and India, has announced the launch of its second fund with a target corpus of $70 million (Rs 609 crore). The firm, which was founded in 2019 by Sunil Wadhwani, focuses on healthcare innovation and backs early-stage startups in the healthcare and healthtech sectors across India and the United States.
The second fund, which follows the successful deployment of about $43 million across 12 companies in the maiden fund, will place special emphasis on segments such as oncology, psychiatry, geriatric care, longevity, and preventive health. Dr. Pankaj Jethwani, managing partner at W Health Ventures, stated that the healthcare sector will continue to grow at a reasonable pace for the next 20 years.
With Fund II, W Health Ventures aims to deepen its commitment to building businesses from scratch, moving beyond traditional investing. The average cheque size in Fund I ranged from $1 million to $5 million, but Fund II will lean towards larger bets and deeper involvement in operations. This shift is expected to enable the firm to make a more significant impact in the healthcare sector.
The firm has already made two investments with the second fund. One of the investments is in Everhope Oncology, a platform focused on standardizing and improving cancer care delivery in India. The partners, W Health Ventures and Narayana Health, have jointly invested around $10 million in Everhope Oncology. Everhope Oncology is building solutions in chemotherapy, surgical oncology, diagnostics, and ongoing supportive care.
The second investment is a psychiatry-focused startup operating in stealth mode, structured as a cross-border, US-India managed services platform. Details about this investment are yet to be disclosed.
W Health Ventures is expanding its team with four new senior operating partners who bring experience in offline care delivery, AI-enabled services, and US GTM strategy. Among the new additions is Dr. Prakash Patel, who specializes in advisory roles and serving on various boards, including cardiac care, reflecting his focus in healthcare and health technology sectors.
The firm's strategy leverages India's engineering and clinical talent to power global healthcare delivery. W Health Ventures offers hands-on support in areas such as research and development, minimum viable product (MVP) development, go-to-market strategy, and clinical partnerships.
The firm plans to support eight to ten early-stage startups over the next four years. This support extends to psychiatry clinics in the United States, which the firm supports with practice management, outcome tracking, and revenue optimization.
With its focus on transformative healthcare solutions and its commitment to building businesses from scratch, W Health Ventures is poised to make a significant impact in the healthcare sector. The firm plans to achieve the first close of Fund II in the next couple of months.
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