Facebook investor Milner sets up second fund
Yury Milner, co-founder of Facebook investor DST, has set up a second fund for further Internet investments.
Superstar Internet investor Yury Milner has started a second fund for a new round of investment in the industry, Bloomberg reports.
DST Global, controled by Milner and metal tycoon Alisher Usmanov, already owns 10 percent of Facebook. Now they have set up DST Global 2, which they reportedly used to acquire a recent stake in coupon website Groupon. Sources told Russian business daily Vedomosti that the investors would use DST Global 2 to buy five percent of leading online music site Spotify.
In a further sign that Milner is in it for the long haul, he has recently bought a 25,500 square foot mansion in Los Altos Hills, overlooking Silicon Valley, according to the San Jose Mercury News. Milner reportedly paid $75 million for the five bedroom home. A spokesman for Milner told the newspaper: “Yury does not have immediate plans to move to the valley.”