Goldman Sachs Asset Management has been increasing its focus on biotech investments. Recently, the investment firm announced the final close of a new $650 million fund, its first solely dedicated to the life sciences sector.
Named West Street Life Sciences I, approximately $90 million from this fund has already been pledged to five biotech endeavours in its portfolio: MOMA Therapeutics, Nested Therapeutics, TORL Biotherapeutics, Septerna, and Rapport Therapeutics.
Goldman’s new fund plans to focus on growth-oriented private equity investments within the life sciences sector, primarily targeting therapeutics organizations in their early to mid stages that can provide multiple assets. The fund will also invest in life sciences tools and diagnostics firms. Noteworthy areas shaping Goldman’s investment strategy include precision medicine, genetic medicine, cell therapy, immunotherapy, synthetic biology, and the expanding field of artificial intelligence.
The Goldman fund will be managed by the firm’s Life Sciences Investing Group. This group, established in 2021, is led by Amit Sinha, Goldman’s Chief Investment Officer and Head of Life Sciences Investing. The fund’s investments will benefit from the insights of an advisory board made up of academics, clinicians, scientists, and entrepreneurs.
Amit Sinha stated, “We are in a golden era of innovation in the life sciences, where technological breakthroughs are creating new approaches to diagnosing and treating disease. 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.”
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