Advance Vixeid Partners, a US-based venture capital affiliate of media group Advance Publications, is targeting $400m for its first fund, according to a regulatory filing on Monday.
Although it operates as an independent firm, AV Partners will offer its portfolio companies access to the brands and expertise of Advance, its lead investor and the parent company of Condé Nast. It will incorporate Advance’s existing portfolio companies, such as Farfetch, Taboola and Rent the Runway.
AV Partners is targeting early growth stage companies operating at the intersection of technology, media and marketing. It will also seek board representation in every investment it makes.
The firm will look to invest between $5m and $25m in each business, but has the capacity to go up to $40m or, in conjunction with partners such as Advance, up to $100m.
AV Partners has also made its first investment, leading a $20m series B round raised by US-based native advertising technology developer Nativo yesterday, which also featured VC firm RezVen Partners and undisclosed new and existing investors.
Nativo has now raised $31.2m in overall funding from backers including Bertelsmann Digital Media Investments, the early-stage investment arm of media conglomerate Bertelsmann, Greycroft Partners, Signia Ventures and E.ventures.
Justin Choi, chief executive of Nativo, said: “This funding will help us expand our engineering team and scale operations across the board to support increased demand for our platform solutions.
“We are particularly excited about the opportunity to build the future roadmap of native and content advertising and to help shape the future of digital media.”