Yuri Milner’s investment firm DST Global has raised $1.7 billion for its fifth fund, according to a filing with SEC. The names of fund’s backers are still undisclosed. DST Global II fund was launched in 2011 with an amount of $1 billion, followed by DST Global III in 2012 and DST Global IV in 2014.
The firm continuously invested in international internet companies including Airbnb, Spotify, Twitter, and Zalando, as well as in German incubator Rocket Internet and Chinese eCommerce firms Alibaba and JD.com. The fund led a $210 million funding deal with Indian e-commerce player Flipkart in 2014 and $315 million investment deal with India based cab aggregator Ola, this year.
Founded in 2005, DST Global is a investment company specializing in late-stage private companies in the global Internet industry. Till date, it has made 34 investments in 30 companies including Funding Circle, Slack, Farfetch, Boxed and Xiaomi. In September 2010, DST rebranded itself, giving its operationsl wing the name Mail.ru Group, which included a host of Russian-language sites as well as a fraction of DST’s stakes in international sites, and calling its investment fund DST Global.