Felicis Ventures raises a new $70 million seed fund

Felicis Ventures, a Palo Alto, Calif.-based venture fund started by early Google employee Aydin Senkut has raised a new $70 million fund. The investment group is well known for its investments in Angry Birds’ parent, Inkling and Shopify. This is their second institutional seed fund.

2010 Will See Some Venture Firms Fold

More venture firms will try to raise funds in 2010 after a dismal 2009, but some won’t be able to, and will have to begin the long process of shutting down. Entrepreneurs seeking funds should know when a prospective investor has to raise more money.