Powell Jobs, is making headlines as he launches a new venture capital firm focused on investing in groundbreaking cancer treatments. The firm, named Yosemite after the national park where his parents tied the knot, aims to carry forward Reed’s previous experience as a managing director at the Emerson Collective, a mission-driven organization founded by his mother.

The inspiration behind Yosemite’s mission comes from a deeply personal place. Reed’s father, Steve Jobs, tragically lost his battle with pancreatic cancer in 2011, which deeply impacted Reed at a young age. In his first interview with a news outlet, Reed shared that his father’s diagnosis at the age of 12 led him to develop a keen interest in oncology. He began his journey in this field with a summer internship at Stanford when he was just 15 years old.

According to a report in the New York Times’ Dealbook, Yosemite has already managed to secure an impressive $200 million in funding. Major contributions have come from esteemed medical institutions such as Memorial Sloan Kettering Cancer Center, The Rockefeller University, and M.I.T. Additionally, prominent venture capitalist John Doerr has also invested in the firm.

One distinctive feature of Yosemite’s model is the incorporation of a dual structure. It combines a for-profit business aspect with a donor-advised fund. This approach allows the firm to provide grants to scientists, enabling them to carry out their research. Successful research projects may then have the opportunity to receive further venture funding from Yosemite.

Reed Jobs expressed his motivation behind becoming a venture capitalist, stating that it wasn’t something he initially aspired to do. However, he realized that being involved in incubating and shaping a venture could significantly impact the direction of research and scientific focus. With this approach, Reed aims to help scientists build and concentrate their research efforts effectively.

Overall, Reed Jobs’ new venture capital firm, Yosemite, represents a powerful commitment to advancing cancer treatments and paying tribute to his father’s legacy by supporting the scientific community in their fight against cancer.