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Image credit: Fast Company
Recently Yuri Milner left the board of Mail.ru Group. Now he is seeking $1 billion for the new late stage technology fund, according to Bloomberg.
Milner has previously invested in Facebook, Groupon, Zynga, LinkedIn and Twitter. The first fund has generated 151 percent gross internal rate of return (for comparison VCs typically use 30 percent to discount cash flows, at least in those few cases where cash flow projections are feasible).
Milner is number 1153 on Forbes’ list of billionaires with $1 billion in personal assets, going head to head with another tech billionaire from Russia Valentin Gapontsev ($1.1 billion), the founder and CEO of fiber optics laser company IPG Photonics.
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