W Health Ventures (WHV), a venture capital business with a focus on healthcare, closed its second fund at Rs 700 crore, exceeding its initial goal of Rs 630 crore.
Over the next four years, the fund intends to develop eight to ten healthcare businesses from pre-idea to category leaders.
Using a company-creation process, W Health’s internal team of doctors, operators, and technology finds holes in healthcare delivery and evaluates and de-risks an opportunity for 12 to 18 months before hiring a founding team.
The company intends to write checks totaling between Rs 30 and Rs 50 crore and establish two to three businesses annually throughout India and the US-India corridor.
Two businesses have already been established under Fund II. While Everbright Health is creating medicines for treatment-resistant depression in the US, Everhope Oncology, which was founded in collaboration with Narayana Health, focuses on integrated, patient-centered cancer care.
W Health Ventures claims that 25 million patients have been served by its portfolio firms thus far. According to the company, Fund II will concentrate on resolving significant, underprivileged healthcare issues where first-mover solutions can have a population-wide impact.
With offices in Mumbai, Bengaluru, Delhi, and Boston, W Health Ventures was founded in 2020 and has developed businesses such as Elevate Now, Nivaan, Hoola Health, and Everhope Oncology.
