In a tough fundraising environment, being the heir to the Apple fortune doesn’t hurt.
Steve Jobs’ son, Reed Jobs, has launched VC firm Yosemite with plans to raise $400 million for a fund dedicated to startups taking on the disease from which his father died, according to an SEC filing and The New York Times.
Yosemite Fund I has already secured $200 million, including commitments from MIT and Memorial Sloan Kettering Hospital. It’ll invest from incubation to late-stage, with an average check size of $10 million.
Yosemite is a spinout from Emerson Collective, a philanthropic organization founded by Steve Jobs’ widow, Laurene Powell Jobs, at which Reed Jobs worked as managing director for healthcare. The firm is capitalizing on both an active space in healthcare investing—cancer care—and a growing trend of hyperspecialist, impact-focused venture funds that stand out from the crowd, PitchBook reports. Read more.
