Reed Jobs, the eldest son of Apple co-founder Steve Jobs and philanthropist Laurene Powell Jobs, is launching Yosemite, a venture capital firm focusing on cancer treatments. The 31-year-old, inspired by his father's pancreatic cancer diagnosis, founded the fund after his father passed away in 2011. Jobs began his oncology career at Stanford when he was 15.

Yosemite, named after his parents' national park, raised $200 million through investments from medical institutions, venture capitalist John Doerr, and medical institutions like Memorial Sloan Kettering Cancer Center, Rockefeller University, and M.I.T.

Reed Jobs, former managing director at Emerson Collective, is launching his latest business venture, building on his previous work.

The firm will employ a dual structure model, consisting of a for-profit business and a donor-advised fund. This approach will enable scientists to receive grants for their research, and then they can return to Yosemite for further venture funding.

Jobs expressed that his new role at the firm will aid scientists in building and concentrating on their research efforts.  He says -

"I had never ever wanted to be a venture capitalist," he said. "But I realized that when you're actually incubating something and putting it together, you can make a tremendous difference in what assets are part of that, what direction it's going to take, and what the scientific focus is going to be."