Media: Facebook has a venture capital division to invest in startups

Axios noticed that Facebook is looking for a person to fill the position of «head of investments» for a new project. The project is called New Product Experiment. According to the publication, it will be a «multi-million dollar» investment fund.

Facebook prefers candidates with ten years of experience in the IT field. The company has already found the right person for this position. But his name remains a secret, someone from the company told Axios.

Shabih Rizvi will also participate in the management of the new fund. Before that, he worked for companies such as Google, Kleiner Perkins and Gradient Ventures.

Now that the antitrust authorities are increasing their control over Facebook’s activities, this fund is especially important, the newspaper notes. It will help the company track trends in the field of startups at the initial stage.