Jim Tananbaum is the founding CEO of Foresite Capital. The firm started off in 2011 with a goal of identifying emerging healthcare leaders and supporting them to grow profitably by providing capital, information, and networks. Visit his Crunchbase to know more.
Before this, Jim was involved in co-founding two main biopharmaceutical companies and healthcare investment practices. He is also the guy behind GelTex Pharmaceuticals (NASDAQ: GENZ) which introduced two drugs in the market for less than $80 million.
On his investment portfolio is Prospect Venture Partners II and III, where he was a founding partner. Earlier in his life, he was a partner at Sierra Ventures and helped establish their healthcare investment practice. Other investments Jim is attached with include Amira Pharmaceuticals, Amerigroup, Jazz Pharmaceuticals, and Healtheon.
The idea of Foresite Capital came after Jim’s 25 years in the health space. He wanted to integrate some aspects of his career and create a unique investment platform. He went into the business with the understanding that healthcare reforms and solutions required more time and capital than other ventures.
To date, Foresite Capital has invested in over 77 healthcare companies. The company’s most prominent investments include Intarcia pharmaceuticals, 10X Genomics, Aimmune Pharmaceuticals and Aimmune Therapeutics and Aeri Pharmaceuticals. Aeri Pharmaceuticals will bring a daily glaucoma treatment into the market. Glaucoma affects over 40 million people in the world and is the leading cause of blindness.
Jim spends most of his work day with his colleagues on calls and meetings. To him, bringing ideas into life required more than capital. There is a need for a smart, persistent and efficient team.
What makes Jim a productive entrepreneur is his insatiable hunger for knowledge. He loves learning to the point that it is a habit. If he were to go back, Jim would believe in himself more. He would only go through with ideas after getting approval from others. This led to many compromises.
Jim urges to entrepreneurs to take more risks and spend a considerable amount of time on due diligence; most of his projects succeeded when he did proper due diligence on them.
The biggest sin, according to him, is to fail to invest due to fear of losing.