VentureBeat covers Covestor’s $6.5M raise:

Well known venture capitalist and blogger Fred Wilson, who happens to be an investor in Covestor through his firm Union Square Ventures, writes that social platforms such as Covestor “might be the best option for investors looking to generate outperformance in the market.” He shares his stock portfolio performance (not good; see left).

While Wilson has put his proverbial money where his mouth is, whether Covestor can separate from the growing field of social investment sites including Zecco and Cake Financial remains to be seen. Back in February, we made up a list of 11 contenders for the social investing market.

Tags: Cake, SocialPicks