Libra co-creator Morgan Beller joins venture firm NFX
September 22, 2020, 10:36AM EDT
1 min read
At 25, Morgan Beller co-founded Facebook's nascent digital currency initiative. At 27, she’s now a member of a multi-billion dollar venture capital firm.
NFX announced today that it hired 27-year-old Morgan, a co-creator of Libra, as its fourth general partner. Her position will involve investing in networks and marketplaces across a variety of sectors.
According to a statement NFX released today, a general partner is often a multi-decade relationship. “It’s important to find someone who both has the skills, network and mind to give our Founders the advantage, and also has a strong cultural and personal fit,” the firm said in its statement. “Morgan is all that, and more.”
One potential explanation why Morgan left Libra to join NFX is because of the network effect.
Pete Flint, CEO of NFX, and his partners said in an interview with Business Insider that they prefer to invest in companies with a “network effect,” meaning the company becomes more useful the more people use it (such as Facebook or Twitter).
According to her LinkedIn, Beller's most recent position was head of strategy for Novi, the digital wallet subsidiary of Facebook previously known as Calibra.
Beller confirmed the move when reached, telling The Block that she will focus on investing in companies across the tech landscape, but that her involvement in crypto will remain.