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FinanceVenture Capital

Yuri Milner adds $1.7 billion to his VC war chest

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
August 3, 2015, 3:06 PM ET
BRITAIN-SPACE-BREAKTHROUGH
Russian entrepreneur and co-founder of the Breakthrough Prize, Yuri Milner, attends a press conference in London on July 20, 2015, where he and British scientist Stephen Hawking annouced the launch of Breakthrough Initiative, a new project to attempt to detect life in the Cosmos. AFP PHOTO / NIKLAS HALLE'N (Photo credit should read NIKLAS HALLE'N/AFP/Getty Images)Photograph by Niklas Halle'n — AFP/Getty Images

DST Global, the venture capital and growth equity firm led by Yuri Milner, has raised $1.7 billion for its fifth fund, according to a filing with the SEC.

It is unclear if this represents a final close, or if DST is still soliciting new capital.

Milner is a Moscow-based tech entrepreneur who first made a name for himself in Silicon Valley by leading a 2009 investment in Facebook (FB) that valued the social network at $10 billion (at least 20% higher than anyone else would bid).

He subsequently invested in U.S. Tech companies as Zynga (ZNGA), Groupon (GRPN), Twitter (TWTR) and Airbnb, before turning his attentions toward Chinese and Indian companies like Alibaba (BABA), Xiaomi and Flipkart. Other portfolio companies include Spotify and Slack.

DST does not generally discuss its fundraising efforts, but SEC filings suggest that its third and fourth general funds had an aggregate gross asset value of around $2.87 billion through the end of March. The group also has dozens of other investment vehicles, including many that focus on China.

Milner did not return a request for comment.

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By Dan Primack
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