Dick Costolo (l), Adam Bain (r). Photos: Steve Jennings/Getty Images, Romeo Gacad/AFP/Getty Images.

Former Twitter CEO Dick Costolo and former Twitter COO Adam Bain have launched a San Francisco-based startup advisory and investment firm called 01 Advisors, Axios has learned from multiple sources.

The bottom line: Costolo and Bain have been angel investing and advising together for the past couple of years, including in companies like TripActions, but are now formalizing their efforts.

  • 01 Advisors is also raising a fund so that it can get equity beyond "advisory shares." In this way, it's a bit similar to how Tusk Ventures, led by former Uber and Michael Bloomberg campaign adviser Bradley Tusk, operates.
  • Former Twitter investor relations executive David Rivinus is also involved, in addition to Costolo and Bain.

Update: After this story was published, 01 Advisors disclosed in an SEC filing that it has secured $135 million for a fund targeting a total of $200 million.

Go deeper

Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 20,001,019 — Total deaths: 733,897 — Total recoveries — 12,209,074Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 5,085,821 — Total deaths: 163,370 — Total recoveries: 1,670,755 — Total tests: 62,513,174Map.
  3. Politics: Trump claims he would have not called for Obama to resign over 160,000 virus deathsHouse will not hold votes until Sept. 14 unless stimulus deal is reached.
  4. Business: Richer Americans are more comfortable eating out.
  5. Public health: A dual coronavirus and flu threat is set to deliver a winter from hellAt least 48 local public health leaders have quit or been fired during pandemic.
  6. Sports: The cost of kids losing gym class — College football is on the brink.
  7. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."
37 mins ago - World

Protests in Belarus turn deadly following sham election

An arrest today in Minsk. Photo: Natalia Fedosenko/TASS via Getty

Protesters and security forces are clashing across Belarus tonight, with at least one person dead, hundreds injured and thousands arrested.

Why it matters: Sunday’s rigged presidential elections have yielded political uncertainty unlike any seen in Aleksander Lukashenko’s 26-year tenure. After claiming an implausible 80% of the vote, Lukashenko is using every tool in the authoritarian arsenal to maintain his grip on power.

Updated 42 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

The number of COVID-19 cases surpassed 20 million worldwide on Monday evening, Johns Hopkins data shows.

The big picture: World Health Organization chief Tedros Adhanom Ghebreyesus told a virtual press conference as the world approached the milestone that 750,000 deaths were set to be recorded this week. "Behind these statistics is a great deal of pain and suffering. Every life lost matters," he said. "But I want to be clear: there are green shoots of hope and... it's never too late to turn the outbreak around."