"Goldman Sachs Secures $650M for Inaugural Life Sciences Venture Fund"
Goldman Sachs has established its first life sciences fund, West Street Life Sciences I, with $650 million to invest in various biotech startups, including those focused on genetic medicine, cell and immunotherapies, synthetic biology, AI, diagnostics, and life science tools. This move comes despite a challenging environment for raising first-time funds in the biotech sector, which saw a significant drop in fundraising totals for new VC funds in the previous year.