Reed Jobs, the 31-year-old eldest son of Apple co-founder Steve Jobs and philanthropist Laurene Powell Jobs, is stepping into the spotlight with a new venture. According to a report by the New York Times’ DealBook, Jobs is launching Yosemite, a venture capital firm aimed at investing in groundbreaking cancer treatments. The inspiration for this endeavor came from his father’s battle with pancreatic cancer, which led him to develop a keen interest in oncology. Jobs, in his first interview with a news organization, revealed that his father’s cancer diagnosis at the age of 12 drove him to focus on oncology, starting with a summer internship at Stanford at the age of 15.
Yosemite, named after the national park where Reed’s parents tied the knot, has already amassed an impressive $200 million in investments. Major contributors to the fund include prestigious medical institutions such as Memorial Sloan Kettering Cancer Center, The Rockefeller University, and M.I.T, along with the support of renowned venture capitalist John Doerr. Drawing on his previous experience as a managing director at the Emerson Collective, a mission-driven corporation founded by his mother, Jobs plans to adopt a unique dual structure model for his firm. It will combine a for-profit business approach with a donor-advised fund, enabling scientists to receive grants for their research and then return to Yosemite for further venture funding.
In his interview with the New York Times, Reed Jobs expressed his commitment to supporting scientists in building and focusing their cancer research. He admitted that becoming a venture capitalist was not his initial ambition, but he realized the tremendous impact he could make by incubating and shaping innovative projects. Through Yosemite, Jobs aims to influence the direction of research projects and ensure a clear scientific focus. With this bold initiative, Reed Jobs is poised to carry forward his father’s legacy by making a significant contribution to the advancement of cancer treatments and medical research.
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