Reed Jobs, the son of Steve Jobs, launched Yosemite, a spinoff from Emerson Collective Health, with $200 million to invest in oncology.
Yosemite will fund companies through both grants and venture investing. The fund will target early-stage companies in therapeutics, diagnostics and digital health, according to an Aug. 1 Yosemite news release provided to Becker's.
Yosemite is partnering with hospitals, endowments and global family offices.
"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," Mr. Jobs said. "We believe this first close demonstrates investor confidence in Yosemite's strategy of building new companies, trust in our extensive grantee and institutional network, and value in our combined experience in shepherding new transformational cancer treatments."