Healthtech-focused VC firm W Health Ventures has launched its second India-focused fund, aiming to raise $70 million (INR 609 crore) to support healthcare startups in the country.
In partnership with 2070 Health, the firm plans to build 8–10 early-stage healthcare startups over the next four years, according to managing partner Pankaj Jethwani.
They expect to invest INR 26–40 crore ($3–5 million) in each startup, with additional funds reserved for follow-up investment rounds.
Their model supports startups from the very beginning, providing funding, infrastructure, and practical, hands-on help with daily operations.
“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 key areas: specialized healthcare services and AI-based B2B healthcare solutions.
The first area will support startups that offer high-quality, efficient care in specific medical specialties.
The second area will invest in B2B startups that create tech solutions for U.S. healthcare companies, using India’s skilled doctors and engineers. These startups will use automation and AI to help global clients work more efficiently.
“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. “Technology is crucial for embedding convenience and high-quality care at every step.”
W Health has started investing from its new fund.
The first investment from Fund II was in EverHope Oncology, which raised $10 million in a seed round led by W Health, along with Narayana Health and 2070 Health.
W Health’s first fund of around $50 million supported startups like Wysa (an AI mental health platform), Elevate Now (a medical weight-loss program), and Kins (a US-based virtual physical therapy service). It also invested in pediatric care and pain management startups.
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