Jim Tananbaum was recently interviewed with Ideamensch about his professional and entrepreneurial career. Jim is the founder of Foresite Capital, an investment firm specializing in providing financial services to emerging healthcare companies. Through Foresite Capital’s financial and investment support, several healthcare businesses have grown and expanded their business portfolios. As a result of Jim’s entrepreneurial skills, and his 25 plus years of experience in the healthcare industry, he thought of the idea of founding Foresite Capital. Foresite Capital established itself as a leader in helping emerging healthcare companies with services such as networks, capital and information to help them achieve growth and success.
Currently, Foresite Capital has invested in over 70 healthcare businesses operating in different sectors like medical providers, pharmaceuticals, genomic sequencing and diagnostics. On a typical day, Jim spends most of his time engaging with his team either through phone or meeting to discuss different opportunities and services provided by Foresite. According to Jim Tananbaum, entrepreneurs are able to bring ideas into reality though associating with the smartest leaders in their areas of operations. The objective of Foresite is to help emerging healthcare leaders to make critical scientific innovations that would possibly lead to better service provision within the healthcare industry.
Jim advice to other entrepreneurs is to first understand the situation to enable them take risks. According to Jim, entrepreneurs should not fear investing in big companies because of fear of making loss. However, investing in businesses without doing proper due diligence is an avenue to failure, advises Jim. Visit his Facebook page
Career background of Jim Tananbaum
GelTex Pharmaceuticals was established by Mr. Tananbaum with about $80 million, and the company specialized in production of two drugs. GelTex was very successful such that one of its products, Renagel was making annual revenues of about $200 million. In 1998, the company was acquired for $1.6 billion.
Jim Tananbaum was a partner at Prospective Venture Partners II and III, and at Sierra Ventures. In his career, Jim has led several investments such as Amerigroup, Healtheon, Amira Pharmaceuticals and Jazz Pharmaceuticals. After amassing years of experience in different companies, Jim settled on founding Foresite Capital with a goal of integrating all elements of his career to enable him create sound investment portfolio. Check out the website officialjimtananbaum.com