Russian investor raises new fund to back the next Facebook or Airbnb.
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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