Scoop: Facebook's former revenue chief becomes full-time venture capitalist

David Fischer, former chief revenue officer at Facebook, has been named a partner with 01 Advisors, a venture capital firm co-founded in 2019 by former Twitter CEO Dick Costolo and former Twitter COO Adam Bain.

Driving the news: 01 Advisors also announced Tuesday that it has raised $395 million for its third fund, which is a step up from the $325 million it raised for Fund II.

Background: Fisher was Facebook's CRO between 2010 and the end of 2021, before which he worked at Google and as deputy chief of staff at the U.S. Treasury Department.

What they're saying: "We can now proudly say that our partners have scaled from zero to $123 billion in revenue, but Fischer is $121 billion of it," Bain tells Axios.