Jim Tananbaum is the founder and CEO of Foresite Capital. The firm which specializes in identifying emerging healthcare leaders and helping them grow profitably, supplying capital, networks and information was founded in 2011. From Jim’s interview with INC42, he reveals how he came up with the idea for starting Foresite Capital. From his 25 years of being a healthcare entrepreneur and investment strategist, he had learned the success factors for entrepreneurs. He had recognized that innovative healthcare products and solutions required significantly more time and capital than entrepreneurs and financiers appreciated. He therefore, founded the firm so that they could support emerging leaders by supplying information, networks, and capital to help in driving their success.
In an article on Biz Journals, Jim spends his normal work days discussing the company’s existing portfolio, new presentations and networking with healthcare thought leaders. To him, bringing ideas to life involves capital and engaging smartest and persistently with effective thought leaders in healthcare. Jim is always inspired by the science behind healthcare innovation which is at the core of his work. He believes in team dynamics that make a company more productive. Jim shows the importance of believing in yourself more when starting your business since he used to execute a combination of what he thought was best and what others thought was best. This always led him to compromises.
As an entrepreneur, Jim took more risks since he spent a lot of time in understanding a situation which made him more confident of getting multiple returns than losses. In growing his business, he strategizes in getting the best people to synergize with his organizational expertise.
Jim holds a BS and a B.S.E.E from Yale University, and MD from Havard Medical School an MS from MIT and an MBA from Havard business school. He has an industry experience of over 25 years. Earlier in his career, Jim worked in different capacities such as: the co-founder and managing director PVP2 & PVP3, Co-Founder and Chief Executive Officer Theravance, a partner in Sierra Ventures and Co-Founder and Board Member of GelTex. Above all, Jim’s highest priority is family and he prefers having dinner with them (IdeaMensch, 2017)