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Russian Billionaire Yuri Milner Invests in Indian Start-ups

 

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Russian investor Yuri Milner is investing $5 million each in Olacabs and Housing.com, two Indian start-ups. Milner is the co-founder of Mail.ru group. His investment, while mainly through his own funds,  may also involve some secondary sale of existing shares. Bhavish Aggarwal, who worked for Microsoft for two years, founded Olacabs. Advitya Sharma started Housing.com in 2012, and it is one of the most rapidly growing housing start-ups in India.

These two investments mark Milner’s first investments in Indian start-ups with his own funds. Milner founded DST Funds, which mainly invested in Russian internet start-ups, until Milner started DST Global for international investments. Milner purchased a $200 million stake in Facebook directly in 2009, and through Mail ru, he has shares of Twitter, Zynga, Spotify, Groupon, Zocdoc and Alibaba. Bloomberg magazine rated Milner as one of the 50 most influential people in the world.

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