Venture capital firm Advance Vixeid Partners, which counts the media company as its largest investor, has already led native advertising company Nativo's $20m series B round.

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…