Reed Jobs again raises over $200 million for his anti-cancer fund – and combines donations with classic VC capital.
His father founded Apple, he wants to beat cancer: Reed Jobs, son of Steve Jobs, has raised over $200 million with his anti-cancer fund Yosemite – for the second time.
“Cancer should no longer be fatal,” explains Jobs in an interview with Forbes. Instead, he wants to make cancer a treatable chronic disease. He was eleven years old when his father received the cancer diagnosis. His death in 2011 motivated him to fight cancer.
Yosemite – A VC fund that combines philanthropy and research
Yosemite works differently than classic VC funds: Jobs simultaneously distributes philanthropic money for particularly risky research and, at the same time, invests in the classic VC style. The money that goes to scientists is not tied to any conditions. When the research is ready for commercialization, Jobs is the first point of contact.
From Stanford to Emerson Collective: The Road to Founding Yosemite
The 34-year-old completed an internship in Stanford cancer research when he was 15. At first he wanted to study medicine. But he later switched to history and ended up working for his mother’s family foundation, the Emerson Collective. He most recently worked there as Health Director and was responsible for the health strategy with a focus on cancer research.
His goal: the so-called “valley of death” between early research and final financing by investors. Yosemite was founded in 2023. He named the fund after the national park where his parents were married.
$200 million for new anti-cancer innovations
For this second round of 200 million, Yosemite is relying on investors such as the biotech company Amgen, the renowned cancer research center Memorial Sloan Kettering Cancer Center, the well-known Silicon Valley investor John Doerr and his mother Laurene Powell Jobs personally. As general partner, Reed Jobs contributes its own capital and plans around 25 investments in early-stage startups.
The portfolio now includes around 20 companies. Three examples:
Chai Discoveryfounded in San Francisco in 2024, uses AI to develop proteins against previously difficult-to-treat cancers. The Series A raised $130 million at a valuation of $1.3 billion – plus a partnership with Eli Lilly.
Tune Therapeutics is developing new treatments for liver cancer caused by hepatitis B and has already raised $175 million.
Azalea Therapeuticsa spin-off from UC Berkeley, is working on gene therapies in which genes are changed directly in the body – without the laborious removal and processing of cells in the laboratory. Yosemite initially gave a risk-free grant, later followed by a larger investment. Laurene Powell Jobs now sits on the supervisory board.