Reed Jobs’ new venture firm can change the lives of the estimated 18.1 million diagnosed cancer patients worldwide. Yosemite, Jobs’ fund for cancer-fighting biotech, launched in August with $200 million in funding from investors like MIT, Memorial Sloan Kettering Cancer Center and John Doerr. Jobs first became interested in oncology as a teen after his father, Steve Jobs, was diagnosed with pancreatic cancer, passing away when his son was an undergraduate at Stanford.
“All I really care about in this world is making a huge difference for cancer patients and what we do at Yosemite, and what I’ve wanted to do my entire life, is to make cancer non-lethal in our lifetimes,” Jobs said on stage during TechCrunch Disrupt today. “If we can be a part of that, that is exactly what I want to do, and what I would love to be known for, but ultimately notoriety is really low on my list of priorities.”
Yosemite is notable not just for its focus on cancer, but also its unique structure, which Jobs says he “hopes other people will eventually copy.” It runs a traditional venture fund, but dedicates 2.5% of it for a donor-advised fund that operates as a non-profit entity. That capital is earmarked for grants, which Yosemite gives without taking any IP. The model was first tested out at Emerson Collective, the business and philanthropic organization founded by Jobs’ mother Laurene Powell Jobs.