Reed Jobs, the son of the late Steve Jobs, has launched a venture firm named Yosemite, dedicated to cancer-fighting biotech. The firm started with a significant $200 million in funding, drawing support from notable institutions like MIT, Memorial Sloan Kettering Cancer Center, and John Doerr. Reed’s passion for oncology was ignited during his teenage years when his father, Steve Jobs, was diagnosed with pancreatic cancer. Yosemite stands out not only for its cancer focus but also for its unique structure.
It operates a traditional venture fund but sets aside 2.5% for a donor-advised fund that functions as a nonprofit entity. This capital is used for grants, which Yosemite provides without claiming any intellectual property. Reed Jobs is particularly excited about the potential of epigenetic engineering and believes that major cancers will see significant progress in the next two decades.