Reed Jobs, son of Apple co‑founder Steve Jobs, leads Yosemite, an oncology‑focused venture firm founded in 2023. The company announced a second fund targeting $350 million and reported a team of 17 professionals. Yosemite creates its own biotech companies or partners with external founders, allocating about one‑third of the fund to internally generated ventures and the remainder to external companies. Approximately 2.5 percent of the fund’s assets are earmarked for a donor‑advised grant program, with $1 million annually from management fees.

The portfolio includes Azalea, originating from a grant to Jennifer Doudna’s laboratory and now in clinical trials, and Quarry, founded by Craig Crews to develop induced proximity therapies that recruit disease‑causing proteins to the cell’s degradation machinery. Since its inception, Yosemite has navigated a biotech sector recovering from post‑pandemic funding constraints, a wave of patent expirations, and growing interest in artificial intelligence for drug discovery and clinical trial design.

Jobs said AI is accelerating target identification, enabling the first therapies against KRAS mutations and expanding the druggable genome beyond the traditional 15 percent. Three companies in the portfolio are pursuing p53, a tumor‑suppressor gene frequently silenced in cancers. Tune Therapeutics is advancing epigenetic editing to silence hepatitis B, affecting more than 250 million people, while Histosonics is applying histotripsy technology for non‑invasive liver and pancreatic tumor ablation.

Jobs noted that the NIH budget faces a proposed 12 percent cut, though bipartisan opposition has so far blocked larger reductions. He also emphasized that AI can reduce patient recruitment costs in Phase 3 trials by constructing synthetic control arms, potentially halving the number of participants required.

Founders seeking funding can submit proposals via email; Yosemite evaluates ideas without regard to the proposer’s title or institutional affiliation, considering all therapeutic modalities from small molecules to digital health.