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Monday October 22, 2018

JP Morgan Raises $1.2 Billion For New Digital Growth Fund

Confirming recent speculation, J.P. Morgan Chase & Co. has rounded up $1.2 billion for a new digital-growth fund to push for stakes in fast-growing private tech companies such as Facebook and Twitter. The amount reported has doubled since last week when they stated to raise $500 to $750 million for the J.P. Morgan Digital Growth Fund LP.

The funding shows that Wall Street has a interest in Internet companies. It is unclear as to how the raised funds will be used, whether they will invest directly or like Goldman Sachs Group Inc, buy and sell shares on behalf of clients in specific companies.

The Wall Street Journal

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