A new JPMorgan Chase & Co technology fund is in talks to buy a substantial stake in Internet messaging and communications site Twitter, the Financial Times reported on Sunday, citing people familiar with the plans.

According to the report, JPMorgan's Digital Growth fund hopes to acquire 10 percent of Twitter for $450 million, valuing the company at $4.5 billion.

The bank said in a regulatory filing on Friday that it had raised $1.22 billion for the Digital Growth fund.

The FT said the fund eventually plans to raise a total of $1.3 billion from a maximum of 480 investors.

It hopes to invest a third of the fund in another private Internet company like online gaming company Zynga or telephony company Skype, according to the report. The last third would be invested in six other companies, possibly including coupons site LivingSocial or online retailer Gilt.

JPMorgan expects over $13 million in commissions from the fund, the FT said.

The JP Morgan fund follows January's $1.5 billion fundraising by Facebook, operator of the world's biggest social networking website, mainly from Goldman Sachs Group Inc and that bank's clients.

JPMorgan declined comment. Twitter could not be immediately reached for comment.

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