JP Morgan Chase & Co has raised $1.22 billion for a new fund to invest in the social media sector.
The filingfor the aptly named “Digital Growth Fund” details that the fund will offer ‘pooled investment fund interests’. There’s no specific mention of Social Media but theNY Times reports‘The Digital Growth fund’isindeed the social media fund.
The launch of the social media fund follows January’s$1.5 billion fundraising by Facebook, mainly from Goldman Sachs Group Inc and its international investors.
Expect significant investments to enter the social space soon.
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Bubble? What bubble?
Story byFrancis Tan
Francis Tan is the Asia editor of TNW, who is based in the Philippines. He is particularly interested in Asian Internet startups, social me(show all)Francis Tanis the Asia editor of TNW, who is based in the Philippines. He is particularly interested in Asian Internet startups, social media and e-commerce. Get in touch with him via Twitter@francistanor Emailfrancis@thenextweb.com.
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