The venture capital firm that placed early bets on social media powerhouses Twitter Inc. and Tumblr Inc. is leaning on its success to raise a pair of new funds totaling $300 million. New York-based Union Square Ventures aims to raise $150 million apiece for USV 2014 LP, the firm’s fourth early-stage fund, and USV Opportunity 2014 LP, its second late-stage pool, by mid-December, according to investment documents viewed by Dow Jones. Following the close, Union Square will put that capital to work in the first quarter of next year.
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