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RentPath buys VC-backed Lovely for $13 mln

RentPath said Wednesday that it has acquired Lovely for $13 million in cash. Based in San Francisco, Lovely is a marketplace for renters, property owners and managers. Its backers included Felicis Ventures, Founder Collective, S-Cubed Capital and FundersClub.

FundersClub appoints Saez to executive team

FundersClub has appointed Engle Saez to the company’s executive team. Prior to joining FundersClub, Saez served as chief marketing officer at Blue Nile, where he was responsible for developing revenue and growth initiatives for the online jeweler.

FundersClub Posts First Year Investment Figures

As most of you know, starting a venture fund is no easy task. Especially when the fund is breaking the paradigm with a new model. This is exactly what FundersClub is trying to do with an online model that lets accredited investors participate in managed funds that invest in startups.

Reuters – FundersClub Rewards Investors for Referrals

FundersClub is looking at new ways to stay on top, writes VentureBeat. The startup has released a new feature that rewards members of its community for making referrals. FundersClub closed a $6 million seed round last year. It is based in San Francisco, Calif.

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peHUB First Read

This Tuesday morning we find out a bit more about Chinese private equity, that there are more exits coming from Asia e-commerce firms and that FundersClub has raised a vehicle for recent Y Combinator graduates.

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FundersClub Receives No Action Letter From The SEC

FundersClub said it received a no-action letter from the Securities and Exchange Commission. The letter suggests that the SEC will not take action against venture capital advisers who are not registered at broker dealers, the company said.

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peHUB First Read

First Read brings you the latest headlines from the weekend touching on entrepreneurs’ greatest challenges; whether we need to rank biotech hubs and FundersClub’s crowdsourcing approach to venture capital.

Video Ad Startup Virool Raises $6.62 Million

Virool, a year-old San Francisco-based video advertising startup, has closed on $6.62 million in funding from a long list of investors in what the company claims is the biggest seed round raised so far by a graduate of the the Y Combinator incubator program. (Virool came out of the program last summer.) The company’s institutional investors include Draper Fisher Juvetson and Menlo Ventures; individuals who contributed to the funding include Paul BuchheitDave McClure, and Yuri Milner.

FundersClub Online Platform Funds Five Companies

FundersClub said it completed investments in Coinbase, Sponsorfied and Tracks.by. The investments, along with those in Virool and FundersClub itself, are the first made by the online marketplace that lets accredited investors become equity holders in managed venture capital funds . The companies are among the Y Combinator summer 2012 batch. Investments by the 5-month-old investment platform now total $1.3 million.

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