The VC firm aims to revolutionize cancer treatment innovations
Reed Jobs, the 31-year-old son of Apple’s co-founder Steve Jobs and philanthropist Laurene Powell Jobs, is making headlines with his new venture capital endeavor focused on revolutionizing cancer treatment.
His firm, ‘Yosemite‘, named after the famous national park where his parents got married, has already closed its first fund at an impressive $200 million.
With the support of renowned institutions like MIT and Memorial Sloan Kettering Cancer Center, as well as experienced investor John Doerr, Yosemite is poised to have a significant impact on medical innovation.
We’re on a mission to lead the next chapter in the fight against cancer,” Reed Jobs said, “forming our standalone entity gives us the flexibility to best drive great ideas to scale.
This venture carries a deep personal meaning for Reed Jobs, as the passing of his father to pancreatic cancer in 2011 motivated him to seek new ways of combatting the disease. Previously studying to become a physician, Reed shifted his focus to history after the loss. In 2004, he joined his mother to form Emerson Collective, through which he engaged in impact investing and philanthropic endeavors.
I had never ever wanted to be a venture capitalist,” Reed Jobs told the New York Times’ Dealbook. “But I realized that when you’re actually incubating something and putting it together, you can make a tremendous difference in what assets are part of that, what direction it’s going to take, and what the scientific focus is going to be.
Yosemite emerges as an offshoot of Emerson Collective, with Reed Jobs, formerly the managing director of health within the organization, now extending his mission through this new venture. While Yosemite will operate as a for-profit entity, it will also maintain a donor-advised fund, allowing for grant funding to support scientists and innovative research in the field of cancer treatment.
By nurturing innovation and actively participating in the commercialization of groundbreaking discoveries, Yosemite aims to generate scientific advancements and potential financial returns.
Reed Jobs’ move into venture capital and medical innovation not only honors his father’s legacy but also paves the way for transformative breakthroughs in cancer treatment that can benefit patients and medical professionals alike.