Reed Jobs — Son Of Steve Jobs — Announces $200 Million Investment Firm To Fight Cancer

SAN FRANCISCO — Reed Jobs, the son of Apple cofounder Steve Jobs, has announced the launch of Yosemite, an investment firm with over $200 million to fund scientific breakthroughs in cancer treatment. The elder Jobs died in 2011 after a yearslong battle with pancreatic cancer.

"We're on a mission to lead the next chapter in the fight against cancer and forming our own standalone entity provides us the flexibility to best propel great ideas until they're at scale," Reed Jobs said Tuesday in a news release.

Yosemite is a spinoff of the Emerson Collective, the philanthropy organization and venture capital firm founded by Reed Jobs’ mother, Laurene Powell Jobs.

The firm will offer grants and venture investing, supporting hundreds of researchers and dozens of therapeutic and diagnostic companies in the U.S., Europe and Israel. Its limited partners include The Rockefeller University, Memorial Sloan Kettering Cancer Center and investor John Doerr.

"Yosemite is uniquely positioned to meet cutting-edge academic science where it is to accelerate translation to biotech innovation," David Hallal said in the news release. Hallal is the founder of ElevateBio, an Emerson Health portfolio company.

“Yosemite has rightfully earned a reputation for advancing the discoveries of many of the world's great scientists with the goal of discovering and developing innovative therapies for patients and families suffering with devastating diseases."