Steve Jobs’ Son Reed Jobs Launches $200M Yosemite Fund to Combat Cancer
- ByStartupStory | August 2, 2023
Reed Jobs, the offspring of Apple’s co-founder Steve Jobs, has unveiled the Yosemite venture capital (VC) fund, aiming to take on the battle against cancer. With an initial funding round that successfully raised over $200 million, Yosemite is set to play a substantial role in advancing cancer treatments and enhancing the quality of life for patients. As an extension of Emerson Collective Health, Yosemite presents an innovative funding model that offers unrestricted grants to emerging researchers while strategically investing in nascent companies focused on 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 esteemed lineup of Limited Partners in Yosemite Fund I includes notable names such as The Rockefeller University and the highly regarded Memorial Sloan Kettering Cancer Center (MSK). Prominent individuals like billionaire venture capitalist John Doerr are also part of this exclusive group. Additionally, Emerson Collective, led by Laurene Powell Jobs, the late Steve Jobs’ spouse, will participate as a Limited Partner. Furthermore, Yosemite will serve as an investment advisor for Emerson Health’s existing portfolio, known as ECI Health Funds.
The selection of the name “Yosemite” pays homage to Yosemite National Park, a significant location in the personal history of Steve Jobs and Laurene Powell Jobs. While operating as a for-profit entity, the fund will also maintain a donor-advised fund structure. This model, designed to reinvest in other promising initiatives following the success of a project, underscores the fund’s distinctive blend of business and philanthropy. Reed Jobs’ approach reflects a profound recognition of the pivotal role VC funding plays in shaping scientific research focus and catalyzing the development of life-changing innovations. His initiative through Yosemite is a compelling continuation of his father’s legacy. With its unique strategy, Yosemite is poised to make a substantial contribution to the global fight against cancer.
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