Goldman Sachs launches $650M fund for life science investments

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Goldman Sachs has raised $650 million for its first-ever life sciences fund, West Street Life Sciences I, to invest in privately held biotech startups. The fund will be used to invest in genetic medicine, cell therapies, immunotherapies, synthetic biology, artificial intelligence, diagnostics, and life science tools companies. This comes as first-time funds have been difficult to raise during the biotech downturn, with only $11.6 billion raised by 183 new VC funds last year, the lowest fundraising total for first-timers since 2013. However, in 2022, around $25.6 billion has been raised by 556 first-time funds.

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