The Winklevoss twins will forever be known for their legal wrangle regarding Facebook, but the brothers are hoping to shake off this image by starting up their own venture capital business - declaring the happy news last Friday.

Whilst Tyler and Cameron Winklevoss have kept schtum about how big their fund is as well as who they've invested in, it sure does help having enemies in high places - after agreeing to a $65 million settlement with former Harvard foe, Mark Zuckerberg, which presumably the twins have used as equity to start up their firm.

Speaking on CNBC's Squawk Box, the duo talked about their strategy and namely, the significance of cloud computing.

"We think the cloud is going to be huge, it already is," Tyler explained.

Cameron urged a bit of caution however, believing that with numerous cloud start-ups within the tech arena, it's crucial to find a company that separates itself from the rest of the competition

"I think the key is a company that is taking a unique or innovative approach to it or shifting the paradigm...Then, also, it's definitely the team behind it. You have to look at the people that are behind the product, who they are, what their background is, do they have a track record of success?" Cameron stated.

Venture capital for cloud computing companies?  Sounds a little 'up in the air'.

Source: CNBC