Steve Jobs's Son Is Diving Into Venture Capital — and His Focus Hits Close to HomeReed Jobs, 31, launched venture capital firm Yosemite, which already boasts $200 million from investors and institutions.

Like father, like son: It seemsinnovationruns deep in the Jobs family.

Reed Jobs, the 31-year-old son ofSteve Jobsand Laurene Powell Jobs, is launching aventure capital firmto invest in new cancer treatments,DealBookreported.

Jobs' father was diagnosed with cancer when he was just 12, and it motivated his interest in oncology from an early age, he told the outlet.

Related:Steve Jobs Systematically Cultivated His Creativity. You Can Too.

The new firm "Yosemite," a nod to where his parents got married, has raised $200 million from investors and institutions including the venture capitalist John Doerr, Memorial Sloan Kettering Cancer Center, The Rockefeller University and MIT, per DealBook.

^{Bloomberg | Getty Images Reed Jobs, left; Laurene Powell Jobs, right.}

The firm is a spinoff of Emerson Collective, the business and philanthropic organization started by his mother in 2004. Jobs has served as managing director for health at Emerson, which he said is differentiated from other funding organizations by its ability to focus on both philanthropy and investment, per the company'ssite.

Yosemite will house both a non-profit business and a donor-advised fund to provide scientists with grants, according to DealBook.

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Jobs took a step back from oncology to major in history and earn a master's degree in the subject and "had never ever wanted to be aventure capitalist," he told the outlet.

"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," Jobs explained.