Reed Jobs Launches $200 Million Venture Fund for Cancer Treatments
Reed Jobs, the son of the late Steve Jobs and philanthropist Laurene Powell Jobs, has unveiled a new venture capital firm, Yosemite, aimed at investing in innovative cancer treatments. The 31-year-old has previously worked behind the scenes, but now he’s stepping into the limelight with this ambitious project.
Yosemite, named after the national park where his parents married, has already secured its debut fund with $200 million from notable individuals and institutions, including MIT, Memorial Sloan Kettering Cancer Center, and John Doerr.
Reed Jobs was studying to become a doctor at Stanford when his father, Steve Jobs, passed away from pancreatic cancer in 2011. This personal tragedy prompted him to switch his major to history. After obtaining a master’s degree, he joined his mother at the Emerson Collective, an impact investing and philanthropic organization she established in 2004.
At Emerson Collective, Jobs served as the managing director of health, collaborating with entrepreneurs, researchers, and patients to expedite cancer research. Yosemite is a spin-off from the Emerson Collective, and Jobs plans to continue this vital work under his new brand.
Yosemite will operate as a for-profit business but will also maintain a donor-advised fund, providing grant money to scientists through its benefactors. The goal is to foster innovation, participate in its commercialization, and reap the associated financial rewards.
Reed Jobs is the brother of Lisa Brennan-Jobs, Eve Jobs, and Erin Siena Jobs. Further information from Jobs’ team is awaited.
LAStartups.com is a digital lifestyle publication that covers the culture of startups and technology companies in Los Angeles. It is the go-to site for people who want to keep up with what matters in Los Angeles’ tech and startups from those who know the city best.
