Sweet smell of checkbook

Venture capital firms and investors are opening their hearts — and their checkbooks — to fund ad network AdBrite and social network headliner Facebook.

AdBrite scored $23 million in funding from Sequoia Capital and Artis Management in what is now its third round of capital raising, reports Mashable.

The company recently unrolled a number of new offerings, including a way for Facebook application developers to monetize their work.

And speaking of Facebook, the social networking company received a $60 million investment from Hong Kong billionaire Li Ka-shing, reports Kara Swisher at AllThingsD.

The influx of cash comes a month after Facebook reaped $240 million from Microsoft in exchange for a wee sliver of ownership.

That money could come in handy since, according to Swisher, Facebook may have trouble raising future VC funding. The company recently decided to put unsavory restrictions on the terms under which they'll accept money, including denying investors a place on the board of directors.