Seed stage investment fund Founder Collective today disclosed is has raised $70 million for a new fund, called Founder Collective II.

The news was disclosed in a blog post by managing partners Eric Paley and David Frankel. It comes three years after founder partners Micah Rosenbloom, Chris Dixon, Zach Klein, Caterina Fake and Bill Trenchard, along with Paley and Frankel, launched its initial $40 million fund.

Founder Collective operates on the philosophy that by dedicating its interests to seed-level companies, “we deliberately avoid the misalignment of being a net buyer round after financing round, while our founders are net sellers. We are not buying an option on the future.”

Related links:

Founders Collective – http://www.FoundersCollective.com

Eric Paley’s blog – Founder Collective II

PE Hub – Founder Collective Nearly Doubles Up For Next Fund

TechCrunch – Founder Collective Raises $70 Million For New Fund

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