Foresite Capital is one of the leading American growth equity firms. It’s CEO, Jim Tananbaum recently had an interview with Ideasmench where he spoke about his business, history and what it took for him to become successful. In this interview JIm spoke candidly about his business strategies. One strategy he employees is his awareness of where the industry is moving towards next. This allows him to create better business relationships with people of similar skill sets and interests. He also spoke about his failures, and one in particular, that occured during the recession of 2008. Though he failed to make certain investments during this time, he stated it allowed him to sharpen his focus and create new opportunities for himself.
Jim Tananbaum has always had an interest in science and healthcare, since his collegiate days. He attended Yale, where he recieved both his Masters, as well as Doctorate degree. His major was Math and computer science as well as electrical engineering. During his tenure at Yale, he was able to work with many leading edge academicians, across several fields of study. This early education allowed him to have access to many opportunities in the growing fields of both science as well as healthcare.
Jim Tananbaum got his first start in business by creating the company GelTex back in 1998. At this time GelTex was able to bring in two brand new drugs, which included Renagel. The revenue of Renagel during the nineties was about 200 million dollar. By 2016, the revenue of Renagel has increased to 1 billion dollars! Jim Tanabaum would then go on to create Foresite Capital which acts as an healthcare equity firm. The focus of Foresite Capital is to look for potential developing leaders in the healthcare sector. Foresite Capital would then help the potential business grow, by providing it with profits, information and networking opportunities.