Goldman Sachs has closed a $650 million fund focused on biotech investments, making it one of the largest first-time private life sciences growth funds. The West Street Life Sciences I fund will be managed by Goldman Sachs Asset Management’s Life Sciences Investing Group and will target early to mid-stage therapeutic companies, as well as life sciences tools and diagnostics companies. The fund has already allocated $90 million to five companies in its portfolio. Goldman Sachs highlighted several themes of fundamental innovation, including precision medicine, genetic medicine, cell therapy, immunotherapy, synthetic biology, and artificial intelligence, as drivers of future growth in the life sciences sector. Despite declining fundraises for biopharma, Goldman Sachs’ $650 million fund offers reassurance to the industry.
Goldman Sachs seals $650M biotech fund—unveiling an alluring investment prospect!
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