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Goldman Sachs Raises Funds for Life Sciences Startups
Goldman Sachs Asset Management announced on Wednesday their successful collection of $650 million, purposed for a new venture fund. This fund, named West Street Life Sciences I, has a prime focus on investing in life sciences sector startups.
Targeting Emerging Therapeutic and Diagnostic Companies
The newly funded West Street Life Sciences I aims to center its investments specifically towards startups in the early to mid-development stages. The startups most likely to benefit will be those with multi-asset portfolios. These include therapeutic and diagnostics companies, leading the field in medical tools and progressive treatments.
The Excitement of Private Investment in Life Sciences
"The private investment platform sees few sectors as thrilling as life sciences, with technological advancements revolutionizing healthcare at a speed never seen before," stated Marc Nachmann, the Global Head of Asset & Wealth Management at Goldman Sachs.
Initial Investments Made
Life Sciences I, according to Goldman Sachs, have already allocated approximately $90 million of the raised funds towards its first five investments. These include Nested Therapeutics, a breakthrough cancer drug maker, and MOMA Therapeutics, a pioneering precision medicine firm. This follows on from the successful $4 billion fund raised for the company's infrastructure fund, West Street Infrastructure Partners IV, in the previous year.
