• Venture Beat, Wednesday, April 27, 2011 12:25 PM

Kevin Rose, of Digg fame, just raised $1.5 million in angel funding for his new mobile development firm Milk. "Many venture capitalists like to say they invest in people, not ideas," writes VentureBeat. "That seems particularly true in the case of Milk." Rose -- who resigned from Digg earlier this year, after the company launched a controversial redesign -- says Milk and its small team are experimenting with different app ideas, hopefully launching four-to-six ambitious apps in a year.

According to VentureBeat, investors include Digg backers Mike Maples, Jr. of Floodgate, and David Sze of Greylock Partners, as well as Ron Conway, Dave Morin, Philip Rosedale, Ev Williams, Joshua Schachter, Ashton Kutcher, Philip Kaplan, Chris Sacca, Gary Vaynerchuk, Tony Hsieh, TechCrunch's Michael Arrington, and others. Notes VentureBeat: "The 'development lab' model seems to be a nice career path for entrepreneurs who have launched one or two successful companies and now want to create cool new products without the headache of running a mature company."

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