With plans to back 8–10 start-ups, W Health’s new fund aims to close critical gaps in India’s healthcare system. The firm is doubling down on focused care platforms and AI-driven B2B health services—leveraging India's tech and clinical talent to build global-scale companies.
With an aim to build generational healthcare companies, W Health Ventures has launched its $70 million second fund focussed on building healthtech platforms from the ground up. This fund will support nearly 8-10 start-ups over the next four years.
The Fund II will use its distinctive “company creation” model, where ideas are conceived, validated, and scaled internally before external founders are brought in. It will focus on two proven themes from Fund I.
The first is single-specialty care delivery platforms that fill critical clinical “white spaces” in India. And the second is AI-enabled B2B healthcare services companies that support US-based healthcare firms by leveraging AI automation and drawing on India’s deep pool of clinical and engineering talent.
“Healthcare innovation in India remains 10-15 years behind global benchmarks. This gap is generational opportunity. That is why, over the past five years, we have built infrastructure to identify white spaces, partner with exceptional founders, and accelerate their journey through proven playbooks, anchor customers, and a seasoned platform team,” said Pankaj Jethwani, managing partner at W Health Ventures.
W Health’s Fund I investments already serve over 25 million patients globally. These include Nivaan (chronic pain), Mylo (parenting), BeatO (diabetes), and BabyMD (paediatrics) in India, along with cross-border companies like Wysa (AI mental health services) and Reveal HealthTech (AI transformation services).
W Health has already begun deploying capital from its second fund, with investment in EverHope Oncology.
India’s $370 billion healthcare market is undergoing a structural shift. Domestic demand for high-quality and ‘patient-centric’ care is rising, and global interest in healthcare products and services from India is accelerating. Yet building in healthcare remains challenging.
The sector is heavily regulated, relationship-driven, clinically complex, and slow to change, making it difficult for start-up founders to break through.
