{"id":27728,"date":"2023-08-03T12:52:53","date_gmt":"2023-08-03T19:52:53","guid":{"rendered":"https:\/\/occupysf.net\/?p=27728"},"modified":"2023-08-03T12:52:55","modified_gmt":"2023-08-03T19:52:55","slug":"steve-jobs-son-gets-200m-for-new-san-francisco-venture-capital-firm","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2023\/08\/03\/steve-jobs-son-gets-200m-for-new-san-francisco-venture-capital-firm\/","title":{"rendered":"Steve Jobs’ son gets $200M for new San Francisco venture capital firm"},"content":{"rendered":"\n

By\u00a0Stephen Council<\/a> Aug 1, 2023 (SFGate.com)<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

FILE: Reed Jobs and his mother,\u00a0Laurene Powell Jobs, greet former Secretary of State Hillary Clinton at Stanford University on March 23, 2016.Justin Sullivan\/Getty Images<\/em><\/a><\/a><\/a><\/p>\n\n\n\n

Reed Jobs, the 31-year-old son of Apple co-founder Steve Jobs and philanthropist\u00a0Laurene Powell Jobs, is leading a new venture capital firm in San Francisco that will focus on investing in cancer treatments.<\/p>\n\n\n\n

The North Beach-based company, called Yosemite, has already raised more than $200 million, according to a\u00a0news release<\/a>. Yosemite is a spinoff from the advocacy and philanthropy company Emerson Collective, founded and run by Powell Jobs and based in Palo Alto.\u00a0Reed Jobs has worked at Emerson for eight years and is bringing three members of the firm\u2019s health investments team to Yosemite, according to a May\u00a0filing<\/a>\u00a0reported by\u00a0The Information<\/a>. Jobs\u2019 father died of complications from pancreatic cancer in 2011 at the age of 56.\u00a0<\/p>\n\n\n\n

Reed Jobs told\u00a0the New York Times<\/a>\u00a0that Yosemite will both run a for-profit investment business and a science grant fund that manages benefactors\u2019 gifts. Jobs told the paper he \u201cnever ever wanted to be a venture capitalist,\u201d but\u00a0joined<\/a>\u00a0his mother\u2019s company after graduating from Stanford in 2015 and ended up leading the health care division as it invested in health technology startups and provided grants.\u00a0<\/p>\n\n\n\n

Steve Jobs had three children with Powell Jobs \u2014 the couple got married<\/a> at Yosemite<\/a> National Park\u2019s Ahwahnee Hotel<\/a> in 1991. The technologist left the bulk of his fortune<\/a> to Powell Jobs, whose net worth<\/a> is estimated at about $10 billion.<\/p>\n\n\n\n

Yosemite, the firm, raised money from billionaire Bay Area investor John Doerr, Memorial Sloan Kettering Cancer Center and Massachusetts Institute of Technology, among others, the New York Times reported. The company will work out of a headquarters at 901 Battery St.<\/p>\n\n\n\n

In a statement, Jobs said, \u201cWe believe this first close demonstrates investor confidence in Yosemite\u2019s 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.\u201d<\/p>\n\n\n\n

Hear of anything happening at Yosemite? Contact tech reporter Stephen Council securely at stephen.council@sfgate.com or on Signal at 628-204-5452.<\/em><\/p>\n\n\n\n

By\u00a0Stephen Council<\/a><\/a><\/p>\n\n\n\n

Stephen Council is the tech reporter at SFGATE. He has covered technology and business for The Information, The Wall Street Journal, CNBC and CalMatters, where his reporting won a San Francisco Press Club award. Signal: 628-204-5452 Email: stephen.council@sfgate.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By\u00a0Stephen Council Aug 1, 2023 (SFGate.com) FILE: Reed Jobs and his mother,\u00a0Laurene Powell Jobs, greet former Secretary of State Hillary Clinton at Stanford University on March 23, 2016.Justin Sullivan\/Getty Images Reed Jobs, the 31-year-old son of Apple co-founder Steve Jobs and philanthropist\u00a0Laurene Powell Jobs, is leading a new venture capital… Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[896,894,895],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/27728"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=27728"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/27728\/revisions"}],"predecessor-version":[{"id":27731,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/27728\/revisions\/27731"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=27728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=27728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=27728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}