Yosemite Deploys $18M With Hybrid Model to Overhaul Cancer Research

SAN FRANCISCO, CA – February 12, 2026 – Yosemite, a venture capital firm with the ambitious goal of making cancer non-lethal, announced today it has deployed more than $18 million in philanthropic grants since its 2023 launch. The firm, founded by Reed Jobs, is pioneering a hybrid strategy that combines non-profit grants for early-stage academic science with for-profit venture investing, aiming to bridge a perilous funding gap that has slowed progress in oncology.

This dual-pronged approach funnels charitable funds toward foundational research that is often considered too early or too risky for traditional investors. The strategy comes at a critical time, as academic researchers face a stark reality: federal funding for the National Cancer Institute (NCI) is facing significant cuts, with grant approval rates plummeting to historic lows. This environment has created a chasm, often called the “valley of death,” where promising scientific discoveries wither before they can be translated into life-saving therapies. Yosemite’s model is designed to build a bridge across that chasm.

"Academic seed funding is essential to the evolution of cancer care," said Reed Jobs, Founder and Managing Partner of Yosemite, in a statement. "Our donor-advised fund strategy enables us and our community to support ambitious, foundational work at its earliest stages and help move promising science toward translation."

A New Blueprint in a Funding Crisis

Yosemite’s intervention is not just timely; it’s a strategic response to a systemic crisis. In 2025, the NCI's grant funding rate was projected to fall to a mere 4%, down from a historical average closer to 20%. This has left countless researchers and innovative projects without the necessary resources to advance. By pairing philanthropic grants with a traditional venture capital arm, Yosemite can nurture science across its entire lifecycle—from a concept in an academic lab to a fully-fledged biotechnology company.

The philanthropic grants, deployed through a donor-advised fund, provide the initial spark. This allows scientists to pursue high-risk, high-reward ideas that federal grant committees might overlook. Once a concept demonstrates promise, Yosemite’s for-profit investment arm can then provide the substantial capital needed to build a company, run clinical trials, and bring a new therapy or technology to market. This creates a self-sustaining ecosystem where philanthropy de-risks the science and venture capital scales the impact.

This model places Yosemite among a new class of organizations practicing “venture philanthropy,” blending the nimbleness and financial acumen of venture capital with the social mission of a non-profit. It provides a vital alternative for scientists caught in the crossfire of budget cuts and intense competition for limited federal dollars.

From Lab Bench to Patient Breakthroughs

A cornerstone of Yosemite’s grantmaking is a strategic partnership with the American Cancer Society (ACS), one of the nation's most established funders of cancer research. Together, they identify high-impact areas of mutual scientific interest, ranging from artificial intelligence in oncology to the development of novel cancer vaccines.

"We are excited to partner with Yosemite for the second year, expanding our ability to fund innovative projects that can have real and practical implications for cancer patients," stated Dr. Bill Dahut, Chief Scientific Officer at the American Cancer Society.

The collaboration is already bearing fruit. A grant awarded through the ACS-Yosemite partnership supported the work of Jeremiah Johnson's group at MIT. The team developed a next-generation antibody-based drug delivery system capable of carrying a larger payload of cancer-killing drugs than conventional methods. The research, recently published in Nature Biotechnology, showed significantly stronger anti-tumor activity in preclinical models of breast and ovarian cancer.

"This support allowed us to pursue a high-risk, high-reward direction that would have been difficult to fund otherwise," Johnson explained. "The ACS-Yosemite partnership created the flexibility and momentum needed to move the work quickly from concept to publication."

Another example of the firm’s impact is seen in the foundational work of Craig Crews at Yale. Yosemite-supported preclinical research contributed to insights that helped form Quarry Thera, a biotech company developing novel small molecule drugs to treat cancer. This demonstrates the model's power to not only advance science but also seed the next generation of therapeutic companies.

Modernizing Cancer Care Delivery

Beyond foundational science, Yosemite is also directing grants toward improving the practical delivery of cancer care at world-renowned institutions. Through its donor-advised fund, the firm supports initiatives at Mayo Clinic and City of Hope aimed at solving immediate challenges in clinical oncology.

These projects focus on integrating cutting-edge technology into everyday practice. Key areas include using AI-powered tools to improve the accuracy of diagnostics, leveraging new digital and physiological signals to monitor patient health remotely, and creating integrated data platforms to inform treatment decisions with greater precision.

At Mayo Clinic, the support is being applied across a wide range of clinical and research programs. "This philanthropic investment will advance Mayo Clinic's work to transform cancer research and care, from early detection through survivorship," said Dr. Cheryl Willman, Executive Director of Mayo Clinic Cancer Programs.

Similarly, at City of Hope, the funding is helping to close the gap between discovery and clinical application. "By supporting ambitious and innovative teams in AI, diagnostics, and care delivery, we can accelerate the integration of breakthrough research into everyday clinical practice to the benefit of patients who need lifesaving care today," commented Dr. John Carpten, Chief Scientific Officer at City of Hope.

A Legacy of Innovation

The driving force behind Yosemite is Reed Jobs, whose mission is deeply personal. As the son of Apple co-founder Steve Jobs, who passed away from pancreatic cancer in 2011, Jobs has channeled his personal experience into a focused, strategic effort to change patient outcomes. Before launching Yosemite, he led the health team at Emerson Collective, an organization founded by his mother, Laurene Powell Jobs, where he honed an investment strategy focused on accelerating cancer research.

Yosemite represents the culmination of that vision—a purpose-built organization designed to attack the problem of cancer from multiple angles. By combining the patience of philanthropy with the urgency of venture capital, Jobs is building a new kind of institution dedicated to a single, profound goal: making cancer a non-lethal disease within our lifetime. As traditional funding sources become less reliable, this hybrid approach may not just be innovative, but essential for the future of oncology.