By Boonsri Dickinson (West Coast Reporter, Silicon Alley Insider)

Redpoint founding partner Geoff Yang invested $7.5 million into Caterina Fake‘s new startup, Pinwheel. Fake was the cofounder of Flickr and Hunch, and announced Pinwheel last week.

Yang said Redpoint is interested in the convergence of mobile, social, and local, so Fake’s startup, which lets you leave virtual notes around the world, was an obvious choice.

“Pinwheel fits perfectly at the intersection of all three. Up to now through the social web, you have been able to follow people and check into places, but you haven’t been able to ‘follow’ a place,” Yang said.

It’s just a sign that the Internet is evolving. Yang explains:

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