CHICAGO (NewsNation) — Steve Jobs’s son, Reed Jobs, is starting a new venture capital investment firm focused on cancer treatment research, according to a New York Times report.
Reed’s father, the co-founder of Apple, died from pancreatic cancer complications in 2011. Since then, Reed has been focusing on oncology in hopes of improving cancer treatments, the report said.
“My dad succumbed to cancer when I was in college at Stanford,” Reed said. “I was pre-med because I really wanted to be a doctor and cure people myself. But just completely candidly, it was really difficult after he passed away.”
The 31-year-old created Yosemite, a spinoff from his mother’s firm Emerson Collective, USA Today reported. Since starting, his firm has raised $200 million from investors and institutions, the NYT reported.
Reed’s firm will run as a for-profit business, but will still receive donations for grants given to scientists with no strings attached, the NYT reported.