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Facebook loses European director to venture capital firm

Facebook (opens in new tab) is losing its UK and pan-European director to an early stage venture capital company.

Christian Hernandez is leaving to join White Star Capital. He will run the company with friend and angel investor Eric Martineau-Fortin.

Companies White Star has already been involved in include Summly, which was bought by Yahoo, and Ludia, that was bought by FreemantleMedia. (opens in new tab)

The pair will look after a total of 20 existing investments and they plan to invest in another 20 companies once they have raised a new $100 million (£66 million) investment fund from various sources.

White Star Capital has also recruited two new principals: John Henderson, who worked with Hernandez at Facebook before joining Summly, and David Szekely, who worked with Martineau-Fortin on previous venture deals.

Hernandez, who is leaving to join White Star in a few weeks time, said on his Facebook page, "Some 1,350 days ago, I walked into Facebook for what has been one of the most amazing rides of my professional career.

"I have been able to work with and learn from some of the most amazing minds in technology, and I have loved working alongside companies seeking to innovate on top of the Facebook platform and to see them scale globally."

He said, "The timing, however, is now right to put my passion for entrepreneurship and working with early-stage start-ups to use in a new way. In a few weeks I will leave Facebook and join my long-time friend and investment partner Eric Martineau-Fortin to scale out White Star Capital."

Facebook (opens in new tab) has not yet announced a replacement for Hernandez.