Reed Jobs, the 31-year-old son of Apple co-founder Steve Jobs and philanthropist Laurene Powell Jobs, is making headlines as he steps into the spotlight with a new venture capital firm. The firm, named Yosemite after his parents’ wedding location, aims to invest in cutting-edge cancer treatments, as reported by DealBook.
$200 Million Debut Fund Attracts Prominent Investors
Yosemite has already closed its debut fund, securing an impressive $200 million from a roster of prominent individuals and institutions. Notable backers include MIT, Memorial Sloan Kettering Cancer Center, and John Doerr, according to the report.
Reed Jobs Journey Driven by Tragedy
Reed Jobs shared a deeply personal motivation for his venture into the world of cancer research. When his father succumbed to pancreatic cancer in 2011, Reed was an undergraduate student at Stanford, studying to become a doctor. Devastated by his father’s passing, he changed his academic path, diving into history studies and later earning a master’s degree. He then joined his mother’s philanthropic organization, Emerson Collective, formed in 2004.
Yosemite, A Spin-Off Focused on Cancer Research
Yosemite is a spin-off from Emerson Collective, where Reed Jobs served as the managing director of health. In this role, he collaborated with entrepreneurs, researchers, and patients to accelerate cancer research. Now, with his new venture capital firm, he is continuing his mission to advance cancer research and treatment.
A Dual Focus on For-Profit Business and Philanthropy
According to DealBook, Yosemite will operate as a for-profit business while maintaining a donor-advised fund. Through this fund, grant money will be made available to scientists, thanks to the support of Yosemite’s benefactors. The firm aims to foster innovation and potentially get involved in the commercialization of groundbreaking research, allowing for the possibility of both scientific progress and financial rewards.
Reed Jobs’ journey into biomedical innovation holds great promise for the fight against cancer. As he forays into this new frontier, the legacy of his visionary father, Steve Jobs, continues to inspire.
