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Eric Ly, LinkedIn’s co-founder, has made an agreement with Wellington Partners where he will serve as a venture partner. LinkedIn is a professional networking site. Ly will be giving hand to the firm’s plans to expand the business in US, specifically Silicon Valley.

The deal might seem unusual to some as people would have thought that he would be busy with his startup, Presdo, specially when he described it as “my life�?. He founded the startup and is its Chief Executive. This deal doesn’t seem to affect his other project as he is committed to work only 2 days a month.

On the occasion, Ly said:

The first time they approached me, I said no, but (Eric Archambeau, General Partner) was just very persistent, you know, and I started to see some benefit in doing this part-time, for myself.

The new deal gives him an opportunity to explore the venture world, though he says he is still interested in entrepreneurship and startups.

Ly’s centre of attention at Wellington will be social media and social networking but that requires a lot of time and with such a short time (which he has committed), it won’t be possible to expect a major breakthrough from him but still he has a reputation in the industry which will help them somehow. He is not the only prominent induction as a venture partner at Wellington, others include Chief Executive of Seesmic, Loic Le Meur and Ram Sranivasan, former Fireclick Chief Executive.