Covestor, a social network for armchair investment managers, has raised its own funds. The New York-based company said Monday that it closed on a $6.5 million first round of financing led by Union Square Ventures and Spark Capital. European investor Amadeus Capital Partners also joined the round.
As part of the deal, Todd Dagres from Spark Capital and Albert Wenger of Union Square will join the company's board of directors.
Covestor, which launched its public beta last summer, lets members share and track their investment portfolios. Over time, members can build up a reputation based on the performance … Read more