Facebook vice president Chamath Palihapitiya will leave the company as he launches a large new venture fund called The Social+Capital Partnership, with backing from some of the worlds leading business and technology leaders. The new fund will be up to $400 million in size, he says, and will focus on a wide range of investments in technology, healthcare, education and financial services. Investors in the fund are not yet being disclosed, although Palihapitiya is the largest single limited partner. Facebook is also investing, says the company. Palihapitiya, who joinedFacebook in 2007 and led the launch of the Facebook platform, has been investing for the last several years through a fund called Embarcadero Ventures. Not all of his investments through that fund have been disclosed, but they include Playdom, Peixe Urbano, Pure Storage, Yammer and others.
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