W Health Ventures marks final close of second fund at Rs 700 crore
The final close follows the fund’s first close of Rs 550 crore in February.
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Healthcare-focused venture capital firm W Health Ventures has marked the final close of its second fund at Rs 700 crore, exceeding its initial target of Rs 630 crore.
The fund will focus on building healthcare companies from the pre-idea stage and aims to create 8-10 startups over the next four years. W Health plans to invest Rs 30-50 crore in each company and build two to three new businesses every year.
The final close follows the fund’s first close of Rs 550 crore in February. W Health had launched the second fund in July 2025 with a target corpus of $70 million and a greenshoe option of $30 million.
The firm is doubling down on its company-creation model, under which it identifies gaps in healthcare, works on an opportunity before a company is formed and then builds a founding team around it.
"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," said Pankaj Jethwani, managing partner at W Health Ventures.
Founded in 2020, W Health has backed 14 startups across India and the US. Its portfolio includes Wysa, BeatO, Mylo, Reveal and Hoola Health, formerly BabyMD. The firm also works with its venture studio, 2070 Health, to build healthcare companies from scratch.