The new Fund
Shareholders of USM Holdings, an asset Manager Alisher Usmanov and its partners, has created a new Fund to invest in technology companies, said the representative of the USM. The Fund was established in 2014, the volume of funds under management is about $1 billion, said the source . Name of investment company, its creators did not disclose.
The proportion of investors in the Fund are distributed in proportion to the USM Holdings. USM’s largest shareholder — Alisher Usmanov, he owns 48% of the holding. 30% of the shares in Vladimir Skoch, father of the state Duma Deputy and long-standing business partner of Usmanov, Andrei Skoch, 10% of the trust Chairman of the Board of Directors of USM Farhad Moshiri, 3% of USM shares owned by the Chairman of the Board of Directors of metalloinvest Ivan Streshinskiy and General Director of “MegaFon” Ivan Taurino. The remaining shares — the management of USM Holdings and its subsidiaries.
Now in the portfolio of the investment Fund shareholders USM seven companies, among them the world’s largest taxi aggregator Uber and its Chinese and Indian counterparts — Didi and Kuaidi Ola Cabs, a Chinese manufacturer of smartphones and tablets from Xiaomi, and one of the largest online stores in India — Flipkart. To name two more projects from the portfolio of the Fund, the representative of the USM refused, specifying only that the Fund invests “primarily in Asia” company. The specific amount of investment and date of investment the interviewee to reveal as refused.
That Usmanov with partners invested in the most expensive startup in the world — Uber, wrote in late January. In the summer of 2015 USM has invested in a us start-up “several tens of millions of dollars”, I told then a source close to holding. Since the summer the price of Uber is up by 22.5% as of the end of last year, the service reached $62.5 billion, wrote. In addition to the Fund Usmanov and partners have Uber and there are other Russian investors Mikhail Fridman, Herman Han and Alexey Kuzmichev (LetterOne investment group), and venture Fund Caspian VC of the owner of the Summa group of Ziyavudin Magomedov.
Investing in Asia
Actively invest in technology and Internet companies, Alisher Usmanov started in 2009, when he became the largest shareholder jointly created with Yuri Milner’s Fund DST Global. Among the first investment, DST Global were the social network Facebook, the seller discounts and coupons from Groupon, online game developer Zynga.
Asian companies Usmanov became interested a few years ago. In late 2012 Ivan Streshinsky said that Usmanov has decided to concentrate on Chinese technology market. At about the same time, USM has invested in Chinese online group Alibaba and online retailer JD.com (formerly 360buy Jingdong Mall). Shares, which Usmanov bought with partners in the companies, has never been revealed. The founder of Alibaba Jack MA said that the Russian billionaire owns “is not big, but big enough for us [for Alibaba]” share. Mr. Usmanov in 2014 evaluated the return on investment in Alibaba more than 500%.
In an interview with CNBC in 2014, Usmanov said that he considers emerging markets “still undervalued” and it is in them that sees the potential. In mid-2014, for example, Yuri Milner, the first partner of Usmanov’s investment in Internet company, has created a Fund DST Global IV (volume and shareholders of the Fund was not disclosed) with a focus on Asian projects.
About Usmanov’s investment in Xiaomi became known in late 2014. “This company [Xiaomi] has become one of the most important companies in China, after the successful Huawei,” said Usmanov in an interview with CNBC. Now Xiaomi is the world’s most expensive hardware startup, the score at the end of last year was $46 billion in revenue for 2014 of $12 billion (135% more than the year before). Among investors Xiaomi is one of the DST structures.
Online retailer Flipkart is also included in top 10 most valuable startups in the world with a valuation of $15 billion. In an interview with CNBC, Usmanov said that he considered the online trading India one of the most promising areas. Total investment in Flipkart is more than $3.2 billion, among other investors online store — South African company Naspers, Tiger funds, Accel. In 2014, $210 million in Flipkart, DST Global has invested jointly with other investors.
Chinese taxi services Didi and Kuaidi appeared in 2012, in February of last year the company announced a merger. The drivers of the combined company daily carry out more than 6 million orders in more than 360 cities in China. Usmanov has invested in Didi and Kuaidi, both before and after the merger, explained to Forbes, the representative of the businessman. Among other investors Kuaidi Didi — telecommunications company Tencent, Tiger Global Management Fund, Internet giants Baidu and Alibaba, DST Global. Evaluation of the combined company Kuaidi Didi latest round of investments — $16 billion For the entire existence Didi and Kuaidi investors have invested about $4.4 billion, follows from Crunchbase.