Mumbai, Feb. 12 -- Early-stage healthcare-focused venture capital firm W Health Ventures is looking for bolder bets with its second fund, building companies from the ground up in areas like oncology, longevity, and chronic pain management, managing partner Pankaj Jethwani told Mint in an interview.

The firm on Thursday announced the initial close of its Fund II at Rs.550 crore, aiming for Rs.630 crore. The fund is about 87% subscribed, and the firm hopes to announce the final close shortly, Jethwani said.

W Health Ventures has already been deploying capital from its second fund, with its first company, Everhope Oncology, launched in March. Everhope was launched in partnership with the hospital chain Narayana Health to reimagine cancer c...