Investment bank Goldman Sachs has raised $650 million to invest in privately held startups in the biotech sector. The company has closed its first-ever life sciences fund, called West Street Life Sciences I. The fund will be used to invest in genetic medicine, cell therapies, immunotherapies, synthetic biology, artificial intelligence startups, as well as diagnostics and life science tools companies. First-time funds have been difficult to raise during the biotech downturn, with the lowest fundraising total for first-timers since 2013 recorded in 2023. Around $11.6 billion was raised by 183 new VC funds last year, compared to $25.6 billion raised by 556 first-time funds in 2022.
Goldman Sachs rockets with huge $650M fund for life science!
Latest from Blog
Arch Venture Partners secures over $3bn for Fund XIII
TLDR: Arch Venture Partners has raised over $3 billion for Fund XIII. Investors in the fund include Alaska Permanent Fund and Rockefeller Brothers Fund. In a recent development, Arch Venture Partners has
Raising Your First Venture Fund: Tips for Success
TLDR: Samir Kaji, a seasoned venture capital professional, shares a six-point plan for raising a venture fund as a first-time fund manager. Key steps include staying focused on a niche, not worrying
Exploring China’s Quantum Computing Breakthrough and VC Trends
TLDR: ONCO stock surged over 80% in pre-market after Altos Venture acquired a stake Chinese low float stocks like DUO rose over 40% in sympathy with large caps Summary: The article discusses
The Blindspot: Venture Capitalists’ Go-To Tool with Fatal Flaw
TLDR: Nader Al-Naji, founder of Bitclout, was arrested for an alleged crypto scam involving VC giant Andreessen Horowitz as a victim. VCs’ pattern matching led them to invest in Al-Naji despite red
Korean startups seek corporate investors in challenging ecosystem climate
TLDR: Korean startups are seeking corporate investors as funding becomes harder to secure. The government in South Korea has relaxed CVC rules to attract more foreign investment. Korean startups are facing a