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As , former Twitter CEO and former Twitter COO have started an advisory and investment firm: 01 Advisors.

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According , the duo has already raised $134.7 million for their inaugural fund, which is aiming for a total of $200 million.

It appears that the two former Twitter executives have leveraged their old job titles to give advice and capital to entrepreneurs. In between both of 鈥檚 stints as CEO of the San Francisco social media company, Costolo ran the shop at Twitter amidst . , consulted for HBO鈥檚 Silicon Valley program, , and now works as a partner at , .

Then there鈥檚 former COO Bain, who was credited with building and launching Twitter鈥檚 advertising business. In fact, , Bain was even eyed to be CEO before Dorsey swept in for his second tenure. After Bain left in 2016, the former COO has been advising and investing in startups like , , , and sneaker marketplace .

Costolo and Twitter did not immediately respond for comment. Bain declined to comment citing quiet-period restrictions.

Monetizing upon your previous experience at a quickly growing startup, especially a startup with the global expanse of Twitter, is smart and somewhat common. For example, was launched by a trio, two of whom were ex- employees. The fund even went as far to say that it would only invest in startups started by ex-Airbnb employees. Wave Capital has since pivoted to invest in marketplace startups more generally.

The ex-Twitter executive duo are moving their consulting efforts into a formalized effort with this new fund. The Axios story parallels 01 Advisors to , a venture capital firm led by that invests in startups in regulated industries. Tusk started off as a consulting shop for larger companies before it began to work with startups in return for equity. Then, Tusk launched a venture capital fund to invest in startups more directly.

Another example of executives going from consulting to investing is . and started a after taking on clients who needed advertising help.

We鈥檝e been tracking the transition of venture capital firms from ATMs to advice giving and service-providing machines. This news is an example of another venture firm coming into existence with more than just capital as their offer: the duo will likely bring their experience at Twitter to the startups that they bet on.

Illustration: .

Editor’s note: This article has been updated with a comment from Adam Bain.聽