Goldman Sachs AM Closes $650M Life Sciences Fund

Goldman Sachs Asset Management held the final close of its debut life sciences-focused investment fund, West Street Life Sciences I, raising $650 million.

The size of the fund, which exceeded its original target, makes it one of the largest first-time private life sciences growth funds, Goldman Sachs claimed. The fund targets mid-stage therapeutic companies with multi-asset portfolios in addition to life sciences tools and diagnostics companies.

Approximately $90 million of the fund has already been distributed to five companies in the group’s portfolio, including bladder cancer focused Moma Therapeutics, molecular glue developer Nested Therapeutics and neurological disease biotech Rapport Therapeutics.

The fund is managed by the Life Sciences Investing Group, which was established in 2021 and is led by Amit Sinha.

“We believe the current environment provides an attractive opportunity for investing in the next generation of leading life sciences companies. Through our global platform, we seek to be a capital provider of choice and help our companies realize their full potential,” said Sinha.

West Street is backed by Goldman Sachs employees, high net worth investors, institutional and strategic investors. According to the Wall Street Journal, the investment bank had initially set a high-end target of $500 million for the fund.