Reed Jobs has launched a new venture capital firm to research new cancer treatments.
Yosemite is the name of the venture, taken from the place where Jobs’ parents married. The 31-year-old is the son of the late Apple co-founder Steve Jobs and has managed to raise $200 million so far from several institutions and investors, including the MIT, Rockefeller University, and Memorial Sloan Kettering Cancer Center, among others.
DealBook reports that the funds will be used to invest in new treatments, and that the capital firm was founded as an inspiration of Steve Jobs’ cancer-related death in 2011. Yosemite is an off-shoot of the philanthropic organization Emerson Collective founded by Laurene Powell Jobs. In the organization, Reed was the managing director before he ventured on his own.
The VC donor fund created by the firm will be used for grants, with those participating likely to return for venture funding in the future.
