DST Global, a large Russian IT-focused fund controlled by Russian billionaire Yuri Milner, has launched its fourth investment fund, DST Global IV. The news wasreported earlier this month by East-West Digital News, the first all English-language online resource dedicated to Russian digital industries, based on U.S. Securities and Exchange Commission documents.
The fund was registered in the Cayman Islands. Its volume has not been disclosed.
Since the launch of its first fund in 2005, DST has been the largest Internet-oriented investment fund with Russian backers. In September 2010, DST rebranded itself, giving its operational wing the name Mail.ru Group and calling its investment fund DST Global. Mail.ru Group, which included a host of Russian-language sites as well as a fraction of DST’s stakes in international sites, began trading on the London Stock Exchange in late 2010.
Meanwhile, DST Global I acquired stakes in a number of leading international Internet companies, from Facebook, to Zynga, to Groupon, to ICQ.
A new fund, DST Global II, was launched in 2011 to eventually raise about $1bn, followed by DST Global III in 2012.
The DST Global funds continued investing in leading international Internet companies, including Airbnb, Spotify, Twitter, Zalando as well as in German incubator Rocket Internet and Chinese e-commerce giants Alibaba and 360buy.com. Recently, the fund led a $210m funding deal with Indian e-commerce leader Flipkart.
Source – Marchmont News
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