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Billionaire Investor Milner Opens Hong Kong Office

Russian billionaire and venture capital investor Yuri Milner is opening an office in Hong Kong, Reuters reported. Milner’s firm DST Advisors will open an office on the 67th floor of Hong Kong’s International Finance Centre 2 in June, in the city’s business hub, with 10-12 staff, Reuters wrote. Milner has invested hundreds of millions of dollars in companies including Facebook, Groupon and Zynga. This month Milner’s Digital Sky Technologies invested $500 million in 360Buy.com, China’s largest business-to-consumer website.

(Reuters) – Russian billionaire Yuri Milner, a venture capitalist and social networking investor who has invested hundreds of millions of dollars in Facebook, Groupon and Zynga, is opening an office in Hong Kong, according to a source familiar with the matter.

Milner’s firm DST Advisors will open an office on the 67th floor of Hong Kong’s International Finance Centre 2 in June, in the city’s business hub, with 10-12 staff according to the source.

The source declined to be named because he was not authorised to talk to the media. A DST spokesman in London had no immediate comment on the matter.

The move comes as investment in Internet technologies gathers pace in China. This month, Milner’s Digital Sky Technologies invested $500 million in 360Buy.com, China’s largest business-to-consumer website, which raised $1.5 billion ahead of a planned 2013 initial public offering.

In January, DST and Goldman Sachs jointly invested $500 million in Facebook which then valued the social networking firm at $50 billion, according to a person familiar with the matter. (By Stephen Aldred; Additional reporting by Elzio Barreto; Editing by Anshuman Daga)