Jon Faerber, chief financial officer at GV, Alphabet's startup investing arm, has left his role there for a CFO position with San Diego-based venture fund Section 32.
Section 32, which is based in the North County beach community of Cardiff, was established in 2017 by the former founder of GV, Bill Maris. (The name of the fund is a Star Trek reference.) GV was initially called Google Ventures.
Faerber isn't the first GV veteran Maris has recruited to the fund.
Jenn Kercher, Section 32's general counsel and chief operations officer, spent the seven years prior to joining the fund last fall as GV's general counsel.
Executive assistant Lindsey Acharya was also previously at GV, as an administrative business partner.
Maris has said the first fund closed after raising $150 million.
The Section 32 website lists 16 companies in which it has since invested. The startups span industries, from cryptocurrency exchange Coinbase to dockless bike-sharing service LimeBike.
"We don’t have a manifesto, we just invest in things we think are fun, smart, and exciting, and hopefully make the world a little bit better along the way," the site says.
However, Maris and managing partner Michael Pellini have extensive expertise in life science, and the lineup reflects that. Other companies listed in the Section 32 portfolio include BloomAPI, which is developing ways for patients to share medical data with health care professionals, and Freenome, which is using AI to develop noninvasive cancer screening and diagnostic tests to aid in early detection.
Pellini is the former CEO of genomics company Foundation Medicine and former COO of Clarient.
Broadly, the fund appears to have a data and life science focus.
While Maris and Pellini are based in Southern California, the other executives, according to their LinkedIn profiles, are based in the San Francisco Bay Area. And none of the companies in the Section 32 portfolio are locally grown.
Still, the fund's debut inspired significant chatter in the San Diego region, where a perennial complaint coming from founders is the area's lack of institutional tech investors.
Soon after the fund's launch, Maris provided the keynote address at the San Diego Venture Group's flagship Venture Summit event. During the talk, he said he was already planning to raise a second fund.
A document filed with the U.S. Securities and Exchange Commission in December indicates the firm anticipates its second fund to total $250 million.
Reach reporter Sarah de Crescenzo at firstname.lastname@example.org.