Tuesday 26 May 2009 8:00 pm

Russian firm invests $200m in Facebook

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THE queue of investors itching to cash-in on social networking site Facebook was long.

But Russia’s Digital Sky Technologies (DST) pipped the competition to the post yesterday when Facebook, run by 24 year old Harvard drop-out Mark Zuckerberg, accepted a $200m (£126m) investment from the company, controlled by Yuri Milner.

Milner’s company owns Russia’s largest website, Mail.ru. He runs DST – which is based in both Moscow and London – with several partners, including Gregory Finger, who was once head of the Moscow arm of NCH, a multibillion-dollar hedge fund.

Another partner, Alexander Tamas used to help run internet and software coverage in Europe, the Middle East and Asia for Goldman Sachs.