Goldman Sachs Asset Management announced on Wednesday that it has raised $650 million for West Street Life Sciences I, which will invest in startups related to the life sciences field.
Goldman Sachs Asset Management is one of the world's largest private capital management companies, investing in a comprehensive range of alternative investments, including private equity, growth equity, private credit, real estate, infrastructure, and sustainable development. West Street Life Sciences I was the first fund in the company's life science investment strategy, and the fund ultimately raised more than its target, becoming one of the largest first-ever growth private equity funds in life science history.
West Street Life Sciences I is managed by the Life Sciences Investment Group of Goldman Sachs Asset Management, which was established in 2021 and is led by Amit Sinha. The investment professionals of the life science investment team will utilize the extensive resources of the Goldman Sachs platform to seek differentiated investments and collaborate with the company to enhance value creation.
The team also has an advisory committee composed of scholars, clinical doctors, scientific experts, and entrepreneurs, with an average industry experience of over 24 years.
Strategic choices
Amit Sinha, Head of Life Sciences Investment at Goldman Sachs Asset Management, said, "We are in the golden age of life science innovation, and technological breakthroughs are creating new methods for diagnosing and treating diseases. We believe that the current environment provides attractive opportunities for investing in the next generation of leading life science companies."
The fund will focus on growth oriented private equity investments in the field of life sciences, particularly targeting early to medium-term treatment companies with multi asset portfolios in addition to life science equipment and diagnostic companies, with the goal of investing in the next generation of leading life science companies.
Marc Nachmann, Global Head of Asset and Wealth Management at Goldman Sachs, said, "Life sciences is one of the most exciting areas of private investment, and technological advancements are changing healthcare at an unprecedented pace."
Goldman Sachs stated that Life Sciences I has committed approximately $90 million to five companies, including cancer drug manufacturer Nested Therapeutics and precision medicine company MOMA Therapeutics. These investments cover precision medicine, immunotherapy, and artificial intelligence in the fields of oncology, neurology, and rare diseases.