US-based internet and mobile investor Union Square Ventures has reportedly closed $350m of new capital across two oversubscribed funds.
The New York-based firm raised $175m for its fourth early-stage fund USV 2014 according to Dow Jones, which cited a person with knowledge of the matter.
They said Union Square also closed USV Opportunity on a similar amount, pulling in $50m more than the firm initially hoped to across both vehicles.
Despite the successful closes the funds are smaller than the $200m Union Square gathered for its third early-stage fund in 2012.
Union Square closed its second fund on $156m in 2008.
The firm, which has previously scored huge return successes through investments in Twitter and Tumblr, recently led a $7m financing round for German football information provider The Football App.
The round followed a €10m Series A led by Earlybird Venture Capital in April this year, which was the first institutional investment received by the startup.
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