US-based bank JP Morgan’s Digital Growth corporate venturing fund and Russian internet investment firm Digital Sky Technologies are reportedly set to be investors in the $800m fundraising being put together by social network Twitter.
The two backers are coming into a funding round which is expected to land Twitter an $8bn valuation, according to news provider All Things Digital. The funding round is expected to close in two weeks.
Half the money is expected to be used to provide an exit for current investors and Twitter employees, All Things Digital said.
If the investments complete, Twitter will have raised $760m since it was founded five years ago, All Things Digital said.