Twitter is an attractive investment opportunity right now, if recent rumors about JPMorgan Chase’s social media fund are any indication. The bank is planning to raise money from hedge funds and wealthy clients for a social media fund, and will be dedicating a significant portion of this fund solely to Twitter.

The New York Times DealBook reported that JPMorgan Chase was beginning to raise capital to invest in privately-held Internet companies like Twitter and Groupon. The bank was said to be raising $500 to $750 million to invest in companies with established business plans prior to their going public.

However, The New York Post received slightly different information. They report that the fund will total $1 billion, as opposed to less than $750 million, and that JPMorgan is planning to invest $200 million of that money directly into Twitter. The remaining money will reportedly be left in a “blind pool” for investors to manage.

It’s interesting to see Twitter singled out as an internet company to invest in. Many commentators have said that, despite its recent $45 million earnings due to the launch of its advertising platform in 2010, Twitter doesn’t have a solid enough business model to make it a viable commercial investment. However, eMarketer projects that Twitter’s revenue will explode to $150 million in 2011, and continue to grow at a rapid pace.

Twitter has seen a burst in funding lately, as the company finalized a $200 million round of fundraising in December. And more recently, investment firm Andreessen Horowitz invested $80 million in Twitter stock.