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Industry Moves: Khosla Ventures Confirms Hiring Of Former Facebook CFO Yu

Former Facebook CFO Gideon Yu, who left the social network suddenly in March, is joining VC firm Khosla Ventures as a partner. Khosla confirmed Yu’s hiring in announcing that it had raised $1 billion for two new funds, which it said it would use to make “clean energy, efficiency, sustainable materials, and information technology” investments. Khosla is also an investor in several ad-related startups, including ad network YuMe and ad and media management firm WideOrbit.

Yu spent two years at Facebook, where he helped the firm raise more than $500 million in funding. In announcing Yu’s departure, Facebook said it was looking for a new CFO with public-company experience — and it has since hired former Genentech CFO David Ebersman as CFO.

Prior to Facebook, Yu had been CFO at YouTube and had also worked as the SVP of Finance at Yahoo (NSDQ: YHOO). He’s also an investor in several startups, including anti-piracy firm Vobile and photo ad network Pixazza. TechCrunch first reported Yu’s hiring last week. Release.