Goldman Sachs announces final close on $650 million life sciences fund
The focus is on precision medicine, genetic medicine, cell therapy, immunotherapy, synthetic biology, and artificial intelligence.
Goldman Sachs Asset Management has announced the final close of West Street Life Sciences I, representing the first fund in the firm’s life sciences investing strategy.
Announced last week, the new fund closed above its fundraising target, with $650 million in equity commitments from a global, diverse group of institutional, strategic, and high-net-worth investors and meaningful commitment from Goldman Sachs employees. The fundraise is one of the largest ever first-time private life sciences growth funds.
The strategy is focused on growth-oriented private equity investments in life sciences, specifically targeting early to mid-stage therapeutic companies with multi-asset portfolios in addition to life sciences tools and diagnostics companies, according to the Goldman Sachs news release. The fund aims to invest in and build the next generation of leading life sciences companies. Goldman Sachs Asset Management has identified several themes of fundamental innovation as well as structural shifts that we believe will drive significant growth in the coming decades. These themes include precision medicine, genetic medicine, cell therapy, immunotherapy, synthetic biology, and artificial intelligence.
The announcement noted that Life Sciences I has already committed about $90 million across five portfolio companies at the forefront of life sciences innovation: MOMA Therapeutics, Nested Therapeutics, TORL Biotherapeutics, Septerna, and Rapport Therapeutics. These investments span precision medicine, immunotherapy, and artificial intelligence in the areas of oncology, neurology and rare disease.
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