Delhi-based venture capital firm W Health Ventures is on the verge of announcing the first close of its second healthcare-focused fund, sized at $100 million. A formal announcement is anticipated in the coming week, according to sources familiar with the development.
The new fund—nearly double the size of its inaugural fund—will continue W Health’s strategy of investing in early-stage healthtech startups across India and the US, with cheque sizes ranging from $1 million to $5 million. The firm will also consider co-investments in larger rounds and selectively participate in Series B rounds of companies building innovative solutions for both domestic and global healthcare markets, LiveMint reported.
“We are at a transformative phase in our journey,” said Pankaj Jethwani, Managing Partner at W Health Ventures. “Fund II is currently being raised, and in the weeks ahead, we’ll share updates on our fund progress and the leadership changes we've made over the last year.”
Fund II is expected to further expand W Health’s venture studio model, which blends investment with company incubation. This hybrid approach delivered promising outcomes under Fund I and will be a key focus going forward.
Founded in 2019 by healthcare entrepreneur Sunil Wadhwani, W Health Ventures is known for backing companies using AI-driven services and specialized healthcare delivery models. Its India portfolio includes:
Wysa Health – focused on diabetes and mental health
2070 Health – a venture studio initiative
Good Health Company – focused on sexual wellness
In the US, its investments include Wysa, a mental health platform, and Jasper, a cancer care support platform.
Meanwhile, Namit Chugh, Principal at W Health Ventures, has tendered his resignation and is currently serving his notice period, according to sources.
The launch of Fund II comes amid a cooling in early-stage healthtech investment in India, with funding levels falling to $3 billion in 2024, down from $4 billion in 2023, according to estimates by Tracxn.
Despite broader market corrections, W Health Ventures appears poised to scale its commitment to transformative healthcare solutions through its growing portfolio and expanded capital base