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DST Sets Up New Fund, Joins Huge Rounds For Spotify And China’s 360buy: Reports

March 30th, 2011 03:15 admin Leave a comment Go to comments

According to Russian business newspaper Vedomosti (via Quintura), star investor Digital Sky Technologies has set up a new fund dubbed DST Global – 2. The fund has already made investments in Groupon (January 2011) and is close to investing $50 million in exchange for 5 percent of online music startup Spotify as part of a $100 million round, according to the paper.

You may remember we broke the news that DST was indeed about to lead a huge financing round for Spotify back in February.

In other news, DST has also joined a group of investors who’ve put hundreds of millions of dollars into 360buy.com, a Chinese online retailing powerhouse often dubbed China’s Amazon.

Another report says 360buy is securing $1 billion in financing in total and plans to IPO in 2013, which indeed sounds like a company right up DST’s alley.

Interesting sidenote: the DST Global – 2 fund this time includes international investors (“Western funds”) as limited partners, according to Vedomosti’s report.

We’re digging for more information and will update when we learn more.

Further reading: DST’s Yuri Milner Buys $70 Million Home In Silicon Valley

Source: DST Sets Up New Fund, Joins Huge Rounds For Spotify And China’s 360buy: Reports

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