Jim Tananbaum: Taking the Right Risks for Healthcare Investments

After successfully founding two biopharmaceutical companies and two healthcare investment practices, Jim Tananbaum had a pretty good understanding of the healthcare industry. He channeled that understanding into the creation of Foresite Capital, a private equity firm specializing in new healthcare providers with the potential to grow and have a major impact on the industry.

Jim Tananbaum has spoken and written about the process that goes into his work each day. Much of his time is spent on the phone with business partners and companies vying for funding from Foresite Capital. Much of his company’s business practice centers on finding top talent and the best minds where the healthcare and technology fields meet, and providing them with the needed capital to make their major investments and research.

In the ever changing healthcare field, Jim Tananbaum said that the most important things are being willing to take risks, and constantly studying and learning about what’s out there so that an investor takes the right risks at the right time. His biggest regret as an entrepreneur was not following his own models and methods from the beginning, versus listening to what others thought and then needing to backtrack. With the right mindset, things can work out in the end.

According to Wired, teamwork is another thing that Jim Tananbaum values highly and believes in when running a business. He said that his best moments in business came when he was working in a team where the whole was greater than the sum of the parts.

His Ivy League educational background was grounded in his fascination of the interplay between computers and healthcare. Jim Tananbaum studied Math and Electrical Engineering/Computer science at Yale, then earned a M.D and an M.B.A from Harvard, and added another degree, M.S. from MIT. His educational experiences have given him many connections in academia, where a lot of medical and computer research is still being founded.

Tananbaum made the Forbes Top 100 Midas List in 2017. His biggest investments were for AmeriGroup, Amira Pharmaceuticals, Jazz Pharmaceuticals, and Healtheon. He has over 25 years of experience in the healthcare industry.