Steve Jobs' Son, Reed, Launches $200M Yosemite Fund to Combat Cancer
Reed Jobs, son of Apple co-founder Steve Jobs, launches Yosemite, a $200M venture capital fund. Yosemite aims to lead the battle against cancer through investment in early-stage innovations
Reed Jobs, the son of Apple co-founder Steve Jobs, has stepped into the spotlight with the launch of Yosemite, a venture capital (VC) fund set up to battle cancer. With an initial funding round that raised over $200 million, Yosemite is poised to meaningfully advance cancer treatments and improve patients' lives.
Yosemite is an offshoot of Emerson Collective Health, and its funding model is unique - offering no-strings-attached grants to emerging researchers, while also making strategic investments in early-stage companies in the fields of therapeutics, diagnostics, and digital health.
"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." Reed Jobs' comments reflect his and Yosemite's commitment to building new companies, as well as the confidence in their approach shown by their investors.
The Yosemite Fund I boasts a renowned roster of Limited Partners, such as The Rockefeller University and the acclaimed Memorial Sloan Kettering Cancer Center (MSK). Notable individuals like billionaire venture capitalist John Doerr are also a part of this exclusive circle. Furthermore, Emerson Collective, an organization spearheaded by Laurene Powell Jobs, the late Steve Jobs' wife, will be participating as a Limited Partner. Moreover, Yosemite will serve as an investment advisor for Emerson Health's existing portfolio (ECI Health Funds).
The name Yosemite pays tribute to Yosemite National Park, the romantic backdrop to Steve Jobs and Laurene Powell Jobs' wedding. The fund will operate as a for-profit business but will also maintain a donor-advised fund. This model, intended to reinvest in other promising ideas upon the success of a project, demonstrates the fund's unique fusion of business and philanthropy.
Reed Jobs' approach reflects his deep understanding of the vital role of VC funding in shaping the focus of scientific research and catalyzing the creation of life-changing assets. His initiative with Yosemite, although initially unplanned, is a powerful continuation of his father's legacy. Through its unique approach, Yosemite is positioned to make a significant impact in the global fight against cancer.