Goldman Sachs Asset Management Successfully Raises $650 Million for Innovative Life Sciences Fund

Goldman Sachs Asset Management raises $650 million for life sciences fund. Invests in startups to transform healthcare. Learn more about the innovative venture.

Jan 3, 2024 - 10:12
Jan 3, 2024 - 10:12
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Goldman Sachs Asset Management Successfully Raises $650 Million for Innovative Life Sciences Fund
Goldman Sachs Asset Management Successfully Raises $650 Million for Innovative Life Sciences Fund

Goldman Sachs Asset Management has announced the triumphant closure of its funding campaign, securing an impressive $650 million for its newly launched fund, West Street Life Sciences I. This fund is strategically tailored to invest in promising startups operating within the dynamic life sciences sector.

The primary focus of West Street Life Sciences I is to target early to mid-stage therapeutic companies that boast multi-asset portfolios, along with tools and diagnostics firms. The fund aims to capitalize on the vast potential of the life sciences landscape, taking advantage of technological advancements that are rapidly transforming the healthcare industry.

Expressing his excitement about the venture, Marc Nachmann, Global Head of Asset & Wealth Management at Goldman Sachs, stated, "Life sciences represents one of the most exciting areas in the private investing landscape."

The fund has already allocated approximately $90 million to support five companies. Notable beneficiaries include Nested Therapeutics, a cancer drug manufacturer, and MOMA Therapeutics, specializing in precision medicine.

This successful fundraising initiative adds to Goldman Sachs' track record of achievements, having raised approximately $4 billion for West Street Infrastructure Partners IV, its infrastructure fund, in the preceding year. The move further solidifies Goldman Sachs Asset Management's commitment to fostering innovation and growth within the rapidly evolving life sciences sector.

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