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Winklevoss Twins Explain Winklevoss Capital Venture On CNBC (VIDEO)

The Huffington Post  |  By Posted: 04/30/2012 3:34 pm Updated: 04/30/2012 4:10 pm

Winklevoss Twins

The Winklevii are putting their notorious name to good use.

After a seven-year-long legal battle with Facebook CEO Mark Zuckerberg, which finally ended with a $65 million settlement last June, it seems Tyler and Cameron Winklevoss have finally moved on: The two appeared on CNBC's "Squawk Box" on April 27 to talk about their brand new investment company, Winklevoss Capital.

While the twins didn't disclose how big their fund is or what projects they are working on, they revealed that a few deals should be closed by the end of this month and that they are currently focusing on "early-stage disruptive start-ups."

Explained Cameron, "We're looking for companies [...] where we can add both capital and operational experience and sort of make an impact and work with the entrepreneurs to build their team. Where we can add value."

Over the years, the twins have made a name for themselves through their very public legal conflict with Zuckerberg over who came up with the idea for Facebook. Winklevoss became a household name after the popular film The Social Network featured the brothers' fictional counterparts.

When CNBC's Andrew Ross Sorkin asked the two how their notoriety has affected the dynamic of their dealings with rising start-ups or competing companies, Tyler answered, "So far, it's been positive because we do have that experience. We [...] were there at the beginning of the Web 2.0, so I think [...] we bring a little bit more than dollars to the table, and so far we've found that that's resonated with the companies we've looked at."

While this may be true, the two will be bringing quite a lot of dollars to the table; as Mashable points out, Facebook's upcoming IPO is likely to pay out great for the twins, who own 1.2 million shares of the company.

Check out what else the twins had to say in the video above and then let us know: Do you think the Winklevosses will be successful venture capitalists? Share your thoughts with us in the comments.

[Hat Tip: Business Insider]

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