Goldman Sachs Asset Management Raises $650M For Life Sciences I Fund, Targets Innovation

The Goldman Sachs Group Inc's GS Goldman Sachs Asset Management recently disclosed the closure of the West Street Life Sciences I fund.

The company stated that Life Sciences I closed above its fundraising target with $650 million in equity commitments. 

The fund represents the first in the firm's Life Sciences Investing strategy and is one of the largest ever first-time private life sciences growth funds.

The fund is managed by Goldman Sachs Asset Management's Life Sciences Investing Group, established in 2021 and led by Amit Sinha.

Goldman Sachs Asset Management's strategy focuses on growth-oriented private equity investments in the life sciences sector, mainly targeting early to mid-stage therapeutic companies with multi-asset portfolios, life sciences tools, and diagnostics companies. 

Presently, Life Sciences I fund has committed ~$90 million across 5 portfolio companies at the forefront of life sciences innovation including MOMA Therapeutics, Nested Therapeutics, TORL Biotherapeutics, Septerna and Rapport Therapeutics.

"Life sciences represents one of the most exciting areas in the private investing landscape, with advances in technology transforming healthcare at an unprecedented pace. We have a long history of partnering with companies in this space and look forward to bringing the full resources of Goldman Sachs to world-class management teams who are driving progress in the industry," said Marc Nachmann, global head of Asset & Wealth Management at Goldman Sachs.

As of September 30, 2023, Goldman Sachs Asset Management had assets under supervision of more than $2.6 trillion.

Also Read: Regulatory Momentum Builds As CBOE Greenlights Fidelity Filing, Goldman Sachs Eyes ETF Role

Price Action: GS shares traded higher by 0.32% at $383.00 premarket Thursday.

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