We build ventures in spaces with large unmet needs: 2070 Health

economictimes.indiatimes.com:

Healthcare focussed venture capital firm W Health Ventures recently invested $30 million in Healthcare Venture Studio 2070 Health. The studio will invest in 15-20 start-ups in the health tech space over the next four to five years. 2070 Health will help founders test, launch, and iterate their ideas.

In an interview Pankaj Jethwani, CEO, 2070 Health discusses the focus of the studio, how different it is from incubators, investing in healthcare ideas and more. Edited excerpts:You are investing in new startups at a time when there have been serious governance issues across startups in India. Investors have failed to do adequate due diligence or see the red flags early on. What needs to be done to correct this? Proactive steps need to be taken depending on the company’s stage to mitigate fraud risk and flag conflicts of interest.

This involves external financial and legal audits, compliance checks, and regular monitoring of MIS including not just Profit and Loss statements but also cash flows. As companies grow, the board should induct sub-committees for audit, ethics, remuneration, etc. Such an approach will bring greater accountability to the system.What is the focus of Venture Studio 2070 Health? Venture Studio identifies opportunities/problems, develops solutions along with founders, launches new companies, and provides them extensive operational and strategic support until the companies achieve product-market fit.

2070 Health is bringing this concept into healthcare-focused Venture Studio. We build patient-centric healthcare companies by bringing together venture ideas, founders and a cross-functional Studio team. First, we identify spaces with large unmet needs and conduct diligence on the concepts, killing 90% of our