Goldman Sachs launches $650 million fund for life sciences investments

Investment bank Goldman Sachs is jumping into the biotech world after raising $650 million to invest in privately held startups.

The bank announced Wednesday that it has closed its first-ever life sciences fund, called West Street Life Sciences I. The plan is to invest the money in genetic medicine, cell therapies, immunotherapies, synthetic biology and artificial intelligence startups, as well as diagnostics and life science tools companies.

First-time funds have been difficult to raise during the biotech downturn. Last year, around $11.6 billion was raised by 183 new VC funds, which was the lowest fundraising total for first-timers since 2013, according to Pitchbook. Around $25.6 billion had been raised by 556 first-time funds in 2022.

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+.

Already have an account? Log in

Already have an account? Log in

Individual plans

Group plans

Monthly

$39

Totals $468 per year

$39/month Get Started

Totals $468 per year

Starter

$30

for 3 months, then $39/month

$30 for 3 months Get Started

Then $39/month

Annual

$399

Save 15%

$399/year Get Started

Save 15%

11+ Users

Custom

Savings start at 25%!

Request A Quote Request A Quote

Savings start at 25%!

2-10 Users

$300

Annually per user

$300/year Get Started

$300 Annually per user

View All Plans

Get unlimited access to award-winning journalism and exclusive events.

Subscribe

Log In