# Reed Jobs raises $350m to make cancer non-lethal

> Steve Jobs's son closes Yosemite's second fund, doubling down on a venture model that blends startup investing with scientific grants to transform cancer treatment.
- Title: Reed Jobs raises $350m to make cancer non-lethal · Fortune
- Summary: Steve Jobs's son closes Yosemite's second fund, doubling down on a venture model that blends startup investing with scientific grants to transform cancer…
- Keywords: reed jobs, yosemite, cancer treatment, venture capital, biotech, steve jobs, Fortune
- Source: Fortune — https://fortune.com/2026/11/04/reed-jobs-yosemite-raises-350-million-second-fund-make-cancer-non-lethal
- Author: Allie Garfinkle
- Read time: 2 min
- Topics: reed jobs, yosemite, cancer treatment, venture capital, biotech, steve jobs
## Not a cure, but a goal
Reed Jobs, Steve Jobs's son and a venture investor, aims to make cancer non-lethal rather than curable. He argues that curing cancer entirely is impossible because human cells can always become cancerous.

> I don't think you'll cure cancer because we're human. Any human cell could become cancerous, right?
## The AIDS model
Jobs points to AIDS as a template. Though no vaccine exists, it became far less scary in the United States because drugs prevent mortality. He calls this victory over death the most essential victory possible.

> With a cocktail of drugs, you can actually prevent mortality. In many ways, I think that's a massive victory.
## A lifelong mission
Jobs started working in cancer labs as a teenager when his father got sick.Steve Jobs died in two thousand eleven.
## Yosemite's second fund closes
Yosemite closed its second fund at three hundred fifty million dollars, a significant jump from the first close at two hundred million dollars in January.
## A hybrid model
Yosemite operates as both a traditional venture firm investing in startups for venture-scale returns and a philanthropic grant-maker funding university scientists. Jobs says grants allow testing new ideas quickly and cheaply before committing major resources.

> With philanthropy, we can fail really cheaply. That's the real wisdom behind this.
## First fund portfolio
Yosemite's first fund, closed in two thousand twenty-four at two hundred sixty-three million dollars, invested in AI drug discovery startup Chai Discovery, cervical cancer screening company Teal Health, epi-therapeutic medicine maker Tune Therapeutics, and care…
## A consortium approach
Jobs believes no single company will make cancer non-lethal. Instead, he expects a consortium of approaches working together, likely progressing cancer by cancer. This reflects how he sees healthcare and science ultimately evolving.

> I don't think a company alone is going to make cancer non-lethal. I think it's going to be a consortium of things.
## Recent scientific breakthroughs
When Jobs started Yosemite in two thousand twenty-three, biotech was in a slump that has since recovered substantially.He credits major scientific advancements over the last three years in GLP-ones, immunotherapy, and vaccines against pancreatic cancer.

> You couldn't have told me four years ago that we'd be sitting here today and we would have the advancements in GLP-1s, in immunotherapy, in vaccines now, and against pancreatic cancer that we've achieved.
## A long-term play
Jobs says his father would advise him to stay on the path because they share a talent for long-term building.Yosemite will not reach its peak success in the next year or two.

> Yosemite is not going to, as you know, reach its zenith of success in the next year or two. This is a long-term play that's going to take my whole life.
## Key takeaway

Reed Jobs's Yosemite closed a three hundred fifty million dollar second fund to invest in cancer treatment startups and scientific research, aiming to make cancer non-lethal rather than curable.