Goldman Sachs Asset Management (GSAM) has raised $650m for a new fund – West Street Life Sciences I – that will make investments in startups related to the life sciences sector, according to a report by Reuters.

Specifically, the fund will target early to mid-stage therapeutic companies with multi-asset portfolios as well as tools and diagnostics firms.

The fund has reportedly already committed about $90m to five companies, including cancer drug maker Nested Therapeutics and precision medicine firm MOMA Therapeutics.