San Francisco · U.S. · Jerome Powell · Fortune Technology
Reed Jobs’s Yosemite raises $350 million second fund to make cancer non-lethal
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Reed Jobs isn’t trying to cure cancer.
Key facts
- Yosemite’s first fund, closed in 2024 at $263 million, included AI drug discovery startup Chai Discovery, cervical cancer screening company Teal Health, epi-therapeutic medicine maker Tune
- Yosemite has now closed its second fund at $350 million, a serious jump from January’s first close at $200 million, Jobs exclusively told Fortune and the Term Sheet Podcast
- Today, he’s a VC, the founder of venture firm Yosemite, which he started after spinning out of Laurene Powell Jobs’s Emerson Collective in 2023
- Jobs’s LPs include Amgen, AbbVie, MIT, Memorial Sloan Kettering, and VC legend John Doerr
Summary
For Jobs—an investor and, yes, Steve Jobs’s son—the aim’s far more precise: To make cancer non-lethal. “I don’t think you’ll cure cancer because we’re human,” said Jobs. So, the idea that none of them could ever become cancer is preposterous. And medicine, however advanced it may be, seldom makes diseases vanish. “There’s no vaccine for , unfortunately,” he said. “The reporter would love for there to be, but in the absence of that, it’s a far less scary disease now in the United States because it’s non-lethal. For Jobs, this has been his life’s work—he started working in cancer labs as a teenager when his father got sick (Steve Jobs would pass away in 2011).