[10] Foresite Capital Fund V, a $969 million fund, was closed in February 2021. His resignation was announced Thursday in The Jackrabbit Speaks, an email newsletter distributed by Burning Man. GelTex was acquired in 1998 for $1.6 billion when its lead drug, Renagel (Renzela), had an annual revenue run rate in excess of $200 million. Co-founded GelTex, which was acquired for $1.4 billion by Sanofi-Genzyme. Jims investment experience includes being a founding partner of Prospect Venture Partners II and III, and earlier in his career, a partner at Sierra Ventures, where he helped establish its healthcare services investment practice. American venture capital and growth equity firm, "Foresite Capital Keeps Late-Stage Healthcare Focus With $450M Third Fund", "Growth-Equity Firm Foresite Capital Raises $100M for Debut Health-Care Fund", "Foresite Capital launchew new venture capital fund worth $668 million", "Foresite Capital reloads with a $450M biotech venture fund", "Foresite Capital raises $100M to invest in late-stage healthcare companies", "Health care venture firm Foresite Capital closes $300M fund", "Karyopharm Prices Upsized IPO at $16 Per Share, Begins Trading Today", "Foresite Capital Closes $100M Fund for Late-Stage Biotechs", "Foresite banks $300M to bet on late-stage biotechs", "Venture fund Foresite Capital raises largest-ever $668m fund", "Foresite Capital raises $969 million fund to invest in healthcare startups across all stages of growth", "10X Genomics scoops another $55M to fuel commercialization of long-read tech", "10X Genomics Emerges With $80M and Toaster-Sized Sequencer Upgrade", "Aerie Stock Hits Record High, Holder Sells $2 Million", "Foresite Capital - Massinvestor Venture Capital and Private Equity Database", "Diabetes 'Unicorn' Raises Final VC Round Before IPO", "Here's who stands to gain from Intarcia's success with a type 2 diabetes pump", "Muse Bio Closes $23M Series B Financing Round", "FORESITE CAPITAL MANAGEMENT III, LLC Institutional Portfolio", "Intarcia Therapeutics Venture Capital and Private Equity Financings", "Xconomy: Foresite Capital Reloads With New $300M Late-Stage Biotech Fund", "Stealthy 10X Genomics Raises $55.5M To Beef Up DNA Sequencing", "Relay Therapeutics hits VC jackpot with $400M series C round for protein-motion drug discovery", "Backed by big-name VCs, this startup is turning machine learning on drug discovery", "Element Biosciences Lands $15M to Develop New Genetic Analysis Tools", "Foresite Capital Management Iv, Llc - Latest 13F Holdings - Fintel.io", "Heir Apparent at Carnegie Corp. Exits for Biotech Venture Firm", "A life sciences firm run by a top VC and a cofounder of Alphabet's life sciences arm, just raised its biggest fund yet", "Nine VCs who matter but you never read about", https://en.wikipedia.org/w/index.php?title=Foresite_Capital&oldid=1147871076, Financial services companies established in 2011, Venture capital firms of the United States, Articles with unsourced statements from December 2021, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 April 2023, at 18:30. Although I have a focus on the business and investment side of healthcare, I believe I am an academic at heart. Looking back at the successful partnerships of the last decade, by and large, they did not fit into the models of their times. Jim architected Foresite in 2011 as a healthcare-dedicated private equity firm specializing in identifying emerging healthcare leaders, which it helps grow to profitability by supplying capital, networks, and information. [7][8][6] In 2014, Foresite Capital closed Foresite Capital Fund II, a $300 million fund. Foresite Capital raised its $100 million Fund I in 2013. Maybe the folks who were paid the most would say yes.". He has had numerous long-term productive relationships with many different leading academicians. "It all depend on who you spoke to I suppose. In February,Felix Gillette chronicled the semi-cladclass warfare at last years Burning Man forBloomberg Businessweek. At some point in the near future, most of you reading this article will have your tissue, blood and/or saliva sequenced for disease prevention and treatment. Gemini raised approximately $216 million through this offering, a combination of Funds held in FSDCs trust account and the concurrent private investment in public equity (PIPE). The experienced healthcare investor has seen more than 27 exits over the last few years including Rely Therapeutics, which went public in July 2020 at a $1.7 billion valuation, and 10x Genomics, which went public in 2019 at a $3.7 billion valuation. The worst professional experiences that I have had are when the people that I am working with dont complement each other or myself. Big Query + Tableau we can go through everything we get into one big database that we can pull information from. So proud to partner with this team. If I were to start again, I would grow my business concepts entirely on what was ideal for business growth as recognized by myself and be less accepting of doing things the way they have always been done. All rights reserved. I am excited to see how these areas evolve in the next few years. The new shell company is helmed by president and chief executive officer Jim Tananbaum. Jim Justice Or Sen. Joe Manchin? Guests could count on a full-service staff, who would among other things help create handcrafted, artisanal popsicles to offer passers-by. community is incredibly special, and it was an inspirational day. He is the founder and CEO of Foresite Capital, a US-focused healthcare investment firm with $3 billon under management. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. WebForesite Capital was founded in 2011 by Jim Tananbaum, Burning Mans most hated billionaire. James B. Tananbaum is an American entrepreneur and businessperson who founded 9 companies, which include: GelTex Pharmaceuticals, Inc., Innoviva, Inc. and Theravance Biopharma, Inc. and who has been the head of 7 different companies. With Burning Man scalpers listing tickets at $1 million in February, and hackers further disrupting ticket sales, its unlikely that the festivals class problems have been resolved, nor that the deeper schism is just about bad manners. chronicled the semi-cladclass warfare at last years Burning Man for, Proudly powered by Newspack by Automattic. The level of gaaah! is pretty high for the rest of us though., For his part, Tananbaum seemed blissfully clueless about the backlash. WebForesite Ventures2016 Midas rank: 54Companies: Puma Biotechnology, Juno Therapeutics, Intarcia Therapeutics WebJames B. Tananbaum is an American entrepreneur and businessperson who founded 9 companies, including: GelTex Pharmaceuticals, Inc., Innoviva, Inc. and Theravance Biopharma, Inc. and who has been at the head of 7 different companies. The technical storage or access that is used exclusively for statistical purposes. WebHe is the founder and CEO of Foresite Capital, a US-focused healthcare investment firm with $3 billon under management. Foresite Capital Founder and CEO 2010 Board and Advisor Roles Number of Current Board & Advisor Roles 6 Number of Past Board & Advisor Roles 4 The deal was helmed by billionaire investor Sir Richard Branson. See Jim Tananbaum's compensation, career history, education, & memberships. There is a need for more great entrepreneurs. The idea of Foresite came from my more than 25 years of being a healthcare entrepreneur and investment strategist. 2023 Forbes Media LLC. [11], Foresite Capital funded 10x Genomics since its Series A round in November 2013 and led its Series B round in January 2015, as well as its Series C round in March 2016. Not consenting or withdrawing consent may adversely affect certain features and functions. Seattle-based Nautilus Biotechnologymerged with Arya Sciences Acquisition III, a SPAC sponsored by Perceptive Advisors. Jim Tananbaum is founder and CEO of Foresite Capital. Tananbaum, a contemporary art collector who resembles the actor Bob Saget, grew up on Manhattans Upper East Side and graduated from Yale and Harvard, where he earned both an M.D. Although Tananbaum was strategically invited to join Burning Mans board and thereby help shape the nonprofit that organizes the annual event his resignation probably isnt a surprise for his cohorts, some of whom have publicly downplayed the festivals class warfare issues. Based on the continued popularity of SPACs, its unlikely Tananbaum and Foresite will have to wait long. For his 50th birthday, Jim Tananbaum, chief executive officer of Foresite Capital, threw himself an extravagant party at Burning Man, the annual sybaritic arts festival and all-hours rave that attracts 60,000-plus to the Black Rock Desert in Nevada over the week before Labor Day. Jim is passionate about continuing his evolution of working across fields with leading entrepreneurs and academicians and believes we are beginning to enter a period of great change and growth driven by developing insights in deep learning and science. Tananbaum founder of Foresite, a VC firm with a $650 million portfolio threw an elaborate birthday party for himself at the 2014 Burn, constructing a lavish compound that Bloomberg described as something like staying at a pop-up W Hotel. He charged guests $16,500 per head to enter. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Healthcare investing is ever changing. Since high school, Jim has had two main areas of interest: 1) mathematics and computer algorithms and 2) biology and healthcare. Got a tip for The Bold Italic? Oct 24, 2022. Medzhitov envisions a Since founding Foresite Capital, Jim has been optimistic about the merger of these two previously very different fields. He also earned an MBA from Harvard while playing rugby. Master of Business Administration, Harvard Business School; Medical Doctor, Harvard University; Master of Science, Massachusetts Institute of Technology; Bachelor of Arts/Science, Yale University. When I finally extricated myself from my partners in 2010, I was trying to raise money on my own during the height of the recession. Jim Tananbaum, the billionaire venture capitalist whom Bloomberg dubbed the Google bus of Burning Man, has resigned from the festivals board of directors, according to the Reno Gazette-Journal. The surrounding camp, enclosed by high walls, would be safe and private. Theravance has since split into two parts, one of which is now part of GSKs respiratory franchise through a joint venture, Innoviva (Nasdaq: INVA), and the other was spun out into Theravance Biopharma, Inc. (Nasdaq: TBPH). The new company, FS Development II, announced this week it raised $175 million in an upsized offering at $10 per share. See Jim Tananbaum's compensation, career history, education, & memberships. WebJim Tananbaum is CEO/Mng Dir/Founder at Foresite Capital Mgmt LLC. Jim architected Foresite in 2011 as a healthcare-dedicated private equity firm specializing in identifying emerging healthcare leaders, which it helps grow to profitability by supplying capital, networks, and information. The new company, FS Development II, announced this week it raised $175 million in an upsized offering at $10 per share. 23andMe raised $759 million from the deal and drove the companys valuation to $3.5 billion. This obviously doesnt add up to success. WebForesite Ventures2016 Midas rank: 54Companies: Puma Biotechnology, Juno Therapeutics, Intarcia Therapeutics WebJim Tananbaum is the Founder and CEO at Foresite Capital. The new shell company is helmed by president and chief executive officer Jim Tananbaum. The shares will be listed on the Nasdaq under the ticker symbol FSII. About 99 out of 100 potential investors turned me down. Jim also co-founded and was CEO of Theravance, Inc. who share GSKs respiratory franchise through a joint venture, Innoviva NASDAQ: INVA), and completed a spin-off, Theravance Biopharma, Inc. (NASDAQ: TBPH). Last year the Browns' defense had big problems stopping the run, so they drafted a big run stuffer. Our business is about giving these individuals the means to be able to make the critical scientific discoveries that have the potential to make the greatest impact on healthcare. WebFounder and CEO of Foresite Capital, Jim Tananbaum rejoins the Midas List after a brief absence. In 2000, I had the concept that a large dedicated healthcare fund would have competitive advantages across asset classes (private and public). Jim has been a lead financier and thought partner for some of the most impactful and fastest growth companies of their generation including: 10x Genomics, Amerigroup (NASDAQ: ANTM), and Jazz Pharmaceuticals (NASDAQ: JAZZ). The House Judiciary Committee is headed to Manhattan next week for a field hearing hosted by Rep. Jim Jordan (R-Ohio), to discuss the policies of Manhattan District Attorney Alvin Bragg. I recently purchased Evernote and subscribed to Spotify. Jim was the founding chief executive of Theravance, Inc. If I could go back, I would have believed more in myself. His intent has been to place Foresite Capital, its resources and networks at the frontier of this data-driven revolution, and to help build transformative healthcare companies that will significantly improve the quality and effectiveness of the entire U.S. healthcare system. Foresite Capital on Twitter: @foresitecapital. Outlook and Salesforce we can integrate everything in our day to day. Additionally, Jim Tananbaum has had 1 past job as the Management Positions at GelTex Pharmaceuticals. DNA-testing giant 23andMe also took the SPAC route earlier this month. In his piece, Gillette described plans for an over-the-top camp hosted by Jim Tananbaum, a former member of Burning Mans governing board: In the spring [Tananbaum] and his team sent out a detailed invitation, enticing potential guests with an early vision of the camp, named Caravancicle.