Venture capital firm Merus Capital has secured $50m for two funds, Merus Capital II and Merus Capital Opportunity Fund.
Merus Capital Opportunity Fund will be used to invest in ad tech company AdRoll, which raised a $70m round earlier this week.
The firm invested $10m as part of that round, which took AdRoll’s fundraising total to $89m, according to the Wall Street Journal.
Merus managing partner Sean Dempsey said the firm raised a special fund to invest in the company “because it’s not the right thing to do to place that kind of investment if the size of your fund is $40m,” according to the report.
He added that Merus will raise more such funds if its other portfolio companies get to that size.
Merus Capital II has secured $43m, exceeding the size of the firm’s $37.5m debut vehicle.
A year ago AltAssets reported that the second fund had raised $17m.
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