On Tuesday, Goldman Sachs Asset Management closed its direct private markets fund, West Street Global Growth Partners, at $5.2 billion. Goldman Sachs stated that the growth equity fund would invest in high-growth enterprises with strong market positioning, high growth rates, and long-term business models. The fund has previously made investments in many Indian firms, including consumer interaction platform MoEngage, business-to-business e-commerce platform ElasticRun, and food delivery platform Swiggy.
The fund looks to invest primarily in early to mid-stage startups targeting sectors such as enterprise technology, financial technology, healthcare, and consumer for a minority stake, with an average cheque size of about $50 million.
“We believe the pace of innovation across enterprise technology, financial technology, healthcare, and consumer businesses shows no sign of abating,” said Julian Salisbury, Chief Investment Officer for Asset and Wealth Management.
Goldman has more than $2 trillion in assets under management worldwide. It has one of the largest global growth equity teams with a local presence in markets across the US, Europe, and Asia. “Our global team, drawing on the firm’s extensive networks and deep relationships, is well-positioned to identify unique opportunities and create value for investors,” said Salisbury.
Globally, the fund has also made investments in firms such as market intelligence software supplier AlphaSense, clinical trial software provider 4G Clinical, and robotic warehousing solutions provider Exotec.
