Founder Collective raises $70M for second fund

Founder Collective, a seed stage fund founded by a handful of entrepreneurs, has raised its second fund worth $70 million. The fund will focus on East Coast seed stage investments but will be open to opportunities in the Bay Area, where three partners now live.

Caterina Fake’s Pinwheel raised $7.5M from Redpoint

Caterina Fake has launched a new startup called Pinwheel, a sort of “Flickr for places.” The startup has raised a $7.5 million Series A Round from Redpoint Ventures, in addition to funding from True Ventures, Betaworks, Founder Collective, SV Angel, Obvious Corp and other angels.