DST Global, a Russia-based investment company, has launched a fund for international investors.
DST Global – 2 will invest in later-stage companies, such as discount coupon provider Groupon in January, reported news provider Vedomosti.
DST Global – 2 is investing $50m for a 5% stake in online music service Spotify, which is expanding into the US from Europe, and $500m for China-based online retailer 360buy Jingdong Mall ‘s latest $1.5bn round. 360buy said hedge fund Tiger had also invested in the firm after it raised $500m in December from six strategic partners, including US retailer Wal-Mart Stores.
360buy plans to float in 2013, according to newswire Reuters.
Separately, news provider TechCrunch said in response to DST’s strategy, Silicon Valley’s top angel investors were banding together following the launch of Start Fund by DST’s Yuri Milner and Ron Conway’s SV Angel.
Start Fund said it would offer every new Y Combinator start-up $150,000, sight unseen and without any due diligence.
Angel funds First Round Capital, Felicis Ventures, Floodgate, SoftTech VC, 500 Startups and Freestyle Capital, and nearly fifty individual angel investors, started End Fund, which plans to invest $1m in 100 start-ups, according to TechCrunch.
Dave McClure, principal at participating fund 500 Startups, will lead End Fund as the fund’s only general partner.