Jim Tananbaum, founding principal and CEO of Foresite Capital, was interviewed by Ideamensch on May 3rd this year. He described his current lifestyle as well as his past life. Some of the things he touched on include his journey as a healthcare entrepreneur, the motivation behind the establishment of Foresite, his business strategies, and entrepreneurial life in general.
The Journey to Foresite Capital
Jim Tananbaum spent his first 25 years of professional life in the healthcare sector, partly as an investment strategist and partly as an entrepreneur. During this time, he accrued a wealth of experience and made several important connections within the healthcare sector. This exposure was a good stepping stone, even to his eventual founding of Foresite Capital. He told Ideamensch that he saw a missing link in the healthcare sector – most potential entrepreneurs lacked the much-needed capital and information to succeed in the industry. Jim said that Foresite Capital came and closed the gap by conducting in-depth research and relaying its findings to probable entrepreneurs so as to enable them to invest from an informed position. By so doing, Jim expressed his satisfaction that his company has helped a sizable number of entrepreneurs to succeed. The company has also gone ahead and made investments in not less than 77 healthcare firms.
In an article on Biz Journals, about his daily routine, Jim told Ideamensch that his life revolves around his workplace, friends, and his home. As busy as his day could be, he must set aside some time in the evening to sit and catch-up with family. For Jim, family comes first, and then friends and business follows.
Jim also commented on how he incubates business ideas. He pointed out that the best of ideas is one that leaders in the industry have discussed. According to INC42, this, added to capital, grows an idea from being just a thought into something practical.
About Jim Tananbaum
Jim Tananbaum is a man with an unparalleled contribution to the healthcare sector. Since he joined the industry, he has taken part in the establishment of several reputable healthcare companies. They include Theravance, Inc., GelTex Pharmaceuticals, Jazz Pharmaceuticals, among others.
Jim holds four degrees from three different institutions: two from Harvard University- an M.D and an M.B.A, an Engineering degree from Yale, and an M.S. from the venerated Massachusetts Institute of Technology.