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Vulcan Capital has been a bit quiet on the venture capital financing front lately. But that changed today with news that Paul Allen’s investment arm is leading a $14 million round in 4INFO, a seven-year-old mobile advertising company. Mitsui Global Investment and existing investors Draper Fisher Jurvetson, Gannett, Mezzanine Capital and U.S. Venture Partners also participated in the round.

The new cash will be used to spin off the 4INFO’s AdHaven business, which specializes in managing advertising campaigns across mobile, Web, tablets and text messages.

“AdHaven’s scalable audience and behavioral targeting is a breakthrough for the mobile advertising industry,” said Stuart Nagae, a partner at Vulcan Capital who is joining 4INFO’s board. “We believe that advanced targeting is the future of the mobile advertising industry, and that AdHaven will pave the way.”

4INFO is based in San Mateo, California. It has raised about $50 million to date.

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