Jim Tananbaum appeared in an article on Ideamensch where he answered questions about his work, his success, and the future. He got the idea of Foresite Capital from working for many years in the healthcare sector. Tananbaum was able to identify success factors that would enable entrepreneurs to thrive in the space. Foresite allows him to share this with others. Jim Tananbaum said that healthcare startups require more financing and take more time to break into the industry. They require a personalized approach that is now provided by many venture capital firms.
Jim was asked what he would do differently if he was given a chance to start again. He said that he would believe more in himself. Jim operated on compromises throughout his career because he balanced what he wanted and what others wanted. Tananbaum added that he would have come up with business concepts derived from what he thought would have been the best way. He explained that the best entrepreneurs were diligent and optimistic while the worst were lazy but still optimistic. Tananbaum noted that the worst mistake that an investor can make is failing to invest because of the fear of losing out. You can visit his About.me page to know more.
Tananbaum has a degree in Electrical Engineering and Computer Science from Yale University. He also has a Medical degree from Harvard University. He was earlier involved with healthcare companies. He has worked at Theravance and GelTex Pharmaceuticals. He has been involved with other venture capital firms such as Sierra Ventures and Prospect Ventures over the course of his career. The firm invests in companies that are involved in synthetic biology, data science, genetic sequencing, and pharmaceuticals. Some of the portfolio companies of Foresite Capital include Sequenta, Nanostring, HealthVerity, and Editas.
Their largest investment is Intarcia. This is a company that is developing an implant for patients with type II diabetes. Tananbaum believes that the product has the potential of growing because of the millions of people who are suffering from the disease. His work at Foresite Capital led him to be recognized in the Forbes Midas list of the top 100 investors this year.
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