Founder and CEO of Foresite Capital, Jim Tananbaum rejoins the Midas List after a brief absence. SPAC mergers have become something of a craze among life sciences companies. There is a need for more great entrepreneurs. The level of gaaah! is pretty high for the rest of us though., For his part, Tananbaum seemed blissfully clueless about the backlash. Jim Tananbaum Kevin Griffin of alternative rock act Better Than Ezra on his first book, a business parable entitled 'The Greatest Song,' now available via Brown Books, his approach to business, the importance of evolving in any business and the dangers of cynicism. 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. Burning Man becomes a nonprofit with 70 employees, a budget of $30 million, and Marian Goodell at the helm. To help blend in with the Burning Man regulars, who tend to parade around the commons in wild, racy outfits (if anything at all), the camp would include an entire shipping container full of costumes. WebHe is the founder and CEO of Foresite Capital, a US-focused healthcare investment firm with $3 billon under management. It heralds their ideal world: one where vague notions of participation replace real democracy, and the only form of taxation is self-imposed charity. Timeline: Burning Man's tumultuous past Jim Tananbaum The worst professional experiences that I have had are when the people that I am working with dont complement each other or myself. Foresite Capital Fund III, a $450 million fund, was closed in July 2015. Co-founded Theravance, Inc., which subsequently changed its name to Innoviva, Inc. (NASDAQ: INVA) and with its spin-off Theravance BioPharma, Inc. (NASDAQ: TBPH), the companies achieved a market capitalization that exceeded $4 billion. 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. 2022 Foresite Capital Management, LLC. Jim Tananbaum, MD Jim Tananbaum Jim Tananbaum Five-time Midas List honoree: 2015, 2016, 2017, 2018, 2021. Foresite Capital is an American venture capital and growth equity firm headquartered in San Francisco. Most Hated Billionaire Resigns The Bold Italic Additionally, Jim Tananbaum has had 1 past job as the Management Positions at GelTex Pharmaceuticals. Billionaires Jims investment experience includes being a co-founder of Prospect Ventures and earlier in his career, a partner of Sierra Ventures, where he established its healthcare services investment practice. Foresite Capital Founder and CEO 2010 Board and Advisor Roles Number of Current Board & Advisor Roles 6 Number of Past Board & Advisor Roles 4 James B. Tananbaum 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. The Psychology Of Investing. 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. The 51-year-old business mogul, who first attended Burning Man in 2009, is the CEO of Foresite Capital. Jim assembles the people, ideas and money needed to launch products that save lives and improve healthcare. "I believe there is a silver lining in the discussion our camp has engendered because it has caused a healthy dialog about the implications for Burning Man's evolution," Tananbaum wrote. Site by GOODLAB. Decades later, Renvela still has annual sales estimated over $850 million. "He was inspired to join the Board after witnessing Burning Man's potential to have a positive impact on the world and has contributed in meaningful ways to the Board," the newsletter said. This is where data science and deep learning will play a significant role. WebJim Tananbaum is CEO/Mng Dir/Founder at Foresite Capital Mgmt LLC. w['BioSpace-Engagement-Widget'] = o; w[o] = w[o] || function () { (w[o].q = w[o].q || []).push(arguments) }; By clicking submit, you agree to share your email address with the site owner and Mailchimp to receive marketing, updates, and other emails from the site owner. My persistence, focus and belief in myself ultimately allowed me to pull together a new set of investments in an entrepreneurial fashion on my own terms. To me, Foresite truly means to understand and harness healthcares future. If I could go back, I would have believed more in myself. I don't know," Lillie wrote. He graduated with degrees in Applied Math and Electrical Engineering/Computer Science from Yale College. See Jim Tananbaum's compensation, career history, education, & memberships. Recall Whole Foods CEO John Mackeys op-ed, in the wake of the Obamacare announcement, in which he proposed a healthcare system reliant on voluntary, tax-deductible donations.. However, it can yield surprisingly long-term impact and enduring value. Published: Feb 19, 2021 Investments of note include 10x Genomics, Intarcia Therapeutics, Aerie Pharmaceuticals and Aimmune Therapeutics. In his last two seasons: 4-13, 4.76. [10] Foresite Capital Fund V, a $969 million fund, was closed in February 2021. So proud to partner with this team. All rights reserved. Foresite Capital Jumps Back Into Whoops! This would inadvertently lead me to compromises. 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). 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.