It’s clear that fewer seed-funded companies are receiving follow-on rounds right now. For nascent startups, it’s certainly cause for hand-wringing. But already venture-backed companies that are gaining traction should also be concerned about what this trend means for them — specifically, more investor visits.

Freestyle Capital, a seed stage Internet investor founded by a pair of serial entrepreneur Burning Man devotees, has raised most of the capital for a planned $40 million second fund, according to a securities filing.

The recently surffaced “scouting” affair may remind some of the scene in Casablanca when Captain Renault, feigning horror before the Gestapo, says aloud to Rick: “I’m shocked, shocked to find that gambling is going on in here!”

On Tuesday, TechCrunch reported that celebrity entrepreneur Kevin Rose has raised $1.5 million for his startup, Milk, from a “wide syndicate of Valley elites.” “Wide” may be understating things. Fully 24 angels participated in the round at what I’m told was a pre-money valuation of $15 million. Among those on the star-studded list: Twitter cofounder Evan Williams, [...]

In this week’s Social Scene, buyout bigshot Steve Schwarzman shows yet again that he has way more money than you and me combined, VC Naval Ravikant gets the old “I left the code at home” excuse, a rich British entrepreneur goes gun crazy, and Skype investor Morten Lund is a year older today. Have a [...]

There’s no shortage of companies that could — and probably are — being adversely impacted by some recent changes at Facebook. For obvious example, Facebook’s official new currency, Facebook Credits, allows Facebook users to earn credits through credit card reward programs, to trade in unwanted gift cards, and to sign up for third-party offers — [...]

Josh Felser and Dave Samuel –  a team of entrepreneurs who’ve founded and sold two startups for hundreds of millions of dollars –  are getting into the early-stage venture capital business, and they’ve established some nontraditional objectives toward that end. “Ideally, we’re looking to invest in startups that raise less than $5 million from investors, [...]