Accel, Greylock jointly hire Yahoo executive

The early-stage technology-focussed venture firms will share the expertise of one of Yahoo’s senior most executives, Jeff Weiner, who will divide his time as executive in residence at both firms.

Yahoo network division executive vice president Jeff Weiner has departed the internet company to join not one, but two venture capital firms as executive in residence: Accel Partners and Greylock Partners. Weiner was one of Yahoo’s 15 most senior employees, according to the company website.

In his new role, Weiner will divide his time equally between the Silicon Valley offices of Accel and Greylock. He will be responsible for advising the leadership teams of both firms’ consumer technology portfolio companies. Weiner will also evaluate new investment opportunities on behalf of both firms.

Jeff Weiner

In his most recent role at Yahoo, Weiner oversaw the company’s portfolio of consumer, communications, search and media web products. Prior to heading the network division, he was a member of the leadership team responsible for the acquisition and integration of brands such as search engine AltaVista. Weiner has also held leadership roles in marketing and corporate development.

Before his tenure at Yahoo, Weiner co-founded digital and media-focussed private equity firm Windsor Digital.

Early-stage technology investor Accel closed its tenth fund on $520 million in November 2007. The firm has more than $4 billion (€2.6 billion) in commitments with offices in Silicon Valley, California, London and China.

Greylock closed its twelfth and most recent fund in 2005 on $500 million. Operating out of Silicon Valley, Boston, Massachusetts, India and Israel, Greylock has more than $2 billion under management for investment in early-stage technology and communications companies.

Accel and Greylock have provided funding to the same companies in the past including social networking site Facebook and enterprise application management company Wily Technologies.