Facebook VP Unveils New Venture Fund

Facebook vice president Chamath Palihapitiya will quit the social networking company to roll out a new venture fund.

Facebook vice president Chamath Palihapitiya will quit the social networking company to roll out a new venture fund, TechCrunch reports. The new fund Social+Capital Partnership will have an initial size of $200-400 million.

The vehicle will target a broad range of investments in technology, healthcare, education and financial services. Investors in the fund have not yet being disclosed, although Palihapitiya is the largest single limited partner.

Click here for the story from TechCrunch.