# DST Global: portfolio, investments and team

> DST Global is a private equity based in United Kingdom. 158 investments on record, 29 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/dst-global (Millionrounds; every figure on the page links to its filing or article)

United Kingdom · [Investor](https://millionrounds.com/investors)

# DST Global

Last cheque observed Oct 2026; 158 cheques on record.

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Deploying now New fund $43M, Jul 2026 Private equity

Seed Series A Series B Internet Technology

Follow DST Global and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fdst-global)

Deploying now

**78%** of best year **29** **cheques in 12 months**, 158 on record

Since the last cheque **21** days **00** hrs **00** min **00** sec

Median round **$81M** Cheque size, as they say **$100K – $200M** Rounds led **12 of 158** Sole investor **8 rounds** Exits **5 from the portfolio** Mostly in **United States, 54%**

Pitch DST Global

## DST Global highlights

- 01 29 cheques in the last 12 months
- 02 Mostly Series B and Series A: 46% of its rounds
- 03 Sole investor in 8 rounds, median $140M
- 04 5 exits from the portfolio

## What they do

> DST Global is one of the leading Internet investment firms globally. From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** $100K – $200M as they say
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Internet Technology
- **Based in:** London, United Kingdom
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **158 appearances**

- **2026** 22 rounds
- **Oct** **[Sabi](https://millionrounds.com/company/sabi)** Seed · US · Trending Topics **$50M** With 6 others
- **Sept** **[Mistral AI](https://millionrounds.com/company/mistral-ai)** Series D · FR · Samsung Catalyst Fund **$3.5B** With 23 others
- **Aug** **[Higgsfield](https://millionrounds.com/company/higgsfield)** Series B · US · Google News search **$400M** *Led*
- **Aug** **[Lovable](https://millionrounds.com/company/lovable)** Series C · SE · Menlo Ventures **$400M** With 17 others
- **Jul** **[Gradium](https://millionrounds.com/company/gradium)** Seed · FR · TechCrunch **$100M** With 8 others
- **Jun** **[Prometheus](https://millionrounds.com/company/prometheus)** Series B · US · TechCrunch **$12B** With 7 others
- **May** **[Anthropic](https://millionrounds.com/company/anthropic)** Series H · US · Crunchbase News **$50B** With 32 others
- **Apr** **[Ineffable Intelligence](https://millionrounds.com/company/ineffable-intelligence)** Seed · GB · TechCrunch **$1.1B** With 9 others
- **Apr** **[Resolve AI](https://millionrounds.com/company/resolve-ai)** Series A · US · Ventureburn **$40M** With 4 others
- **Apr** **[Haast](https://millionrounds.com/company/haast)** Series A · AU · TechStartups **$12M** With 4 others
- **Apr** **[Juicebox](https://millionrounds.com/company/juicebox)** Series B · US · Ventureburn **$80M** *Led*
- **Mar** **[Quince](https://millionrounds.com/company/quince)** Series E · US · TechCrunch **$500M** With 12 others
- **Mar** **[Earendil Labs](https://millionrounds.com/company/earendil-labs)** Venture · US **$787M** With 1 other
- **Feb** **[Fluency](https://millionrounds.com/company/fluency)** Seed · AU · Startup Daily **$6.0M** With 5 others
- **Feb** **[Biorce](https://millionrounds.com/company/biorce)** Series A · ES **$52M** With 2 others
- **Feb** **[Breezy!](https://millionrounds.com/company/breezy)** Pre-seed · CY **$10M** With 2 others
- **Feb** **[Waymo](https://millionrounds.com/company/waymo)** Series D · US · Crunchbase News **$16B** *Led*
- **Jan** **[Ricursive Intelligence](https://millionrounds.com/company/ricursive-intelligence)** Series A · US · Crunchbase News **$300M** With 7 others
- **Jan** **[Aikido](https://millionrounds.com/company/aikido)** Series B · BE · TechStartups **$60M** *Led*
- **Jan** **[Swap Commerce](https://millionrounds.com/company/swap-commerce)** Series B · GB · TechCrunch **$100M** With 1 other
- **Jan** **[Pennylane](https://millionrounds.com/company/pennylane)** Series E · FR **$204M** With 4 others
- **Jan** **[Aeriva](https://millionrounds.com/company/aeriva)** Seed · BR **$8.0M** Sole investor
- **2025** 32 rounds
- **Dec** **[Lovable](https://millionrounds.com/company/lovable)** Series B · SE · TechCrunch **$330M** With 17 others
- **Dec** **[Gradium](https://millionrounds.com/company/gradium)** Seed · FR · TechCrunch **$70M** With 6 others
- **Nov** **[Flexion](https://millionrounds.com/company/flexion)** Series A · CH · Crunchbase News **$50M** With 5 others
- **Nov** **[CloudWalk](https://millionrounds.com/company/cloudwalk)** Debt · BR · LatamList **$780M** With 9 others
- **Nov** **[CloudX](https://millionrounds.com/company/cloudx)** Series A · US **$30M** With 2 others
- **Nov** **[Sundayapp](https://millionrounds.com/company/sundayapp)** Series B · US **$21M** With 1 other
- **Nov** **[Moladin](https://millionrounds.com/company/moladin)** Venture **$35M** With 3 others
- **Oct** **[Whatnot](https://millionrounds.com/company/whatnot)** Series F · US · Crunchbase News **$225M** *Led*
- **Oct** **[Reflection AI](https://millionrounds.com/company/reflection-ai)** Series B · US · Crunchbase News **$2.0B** With 13 others
- **Oct** **[Upgrade](https://millionrounds.com/company/upgrade)** Growth · US · TechStartups **$165M** With 5 others
- **Sept** **[Distyl AI](https://millionrounds.com/company/distyl-ai)** Series B · US · Crunchbase News **$175M** With 4 others
- **Sept** **[Mistral AI](https://millionrounds.com/company/mistral-ai)** Series C · FR · Crunchbase News **$2.0B** With 8 others
- **Sept** **[Console](https://millionrounds.com/company/console)** Series A · US **$23M** With 3 others
- **Sept** **[Splash Financial](https://millionrounds.com/company/splash-financial)** Series C · US **$70M** With 4 others
- **Sept** **[Outsmart Education](https://millionrounds.com/company/outsmart-education)** Seed · US **$23M** With 5 others
- **Jul** **[Reka AI](https://millionrounds.com/company/reka-ai)** Series B · US **$110M** With 2 others
- **Jun** **[Nabla](https://millionrounds.com/company/nabla)** Series C · FR · Crunchbase News **$70M** With 4 others
- **Jun** **[Glean](https://millionrounds.com/company/glean)** Growth · US · Crunchbase News **$150M** With 17 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **4 named**

DZ **Despoina Zinonos** President and Secretary of the Corporate Director i Filing they signed

JF **Jody Flaws** Manager of the Issuer's Managing Member i Filing they signed

RR **Richard Ruffer** Manager of the Issuer's Managing Member i Filing they signed

SH **Scott Huff** Manager of the Issuer's Managing Member i Filing they signed

We also hold **26** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$25B** gross assets of its funds, 7 advisers combined Oct 2026

**11+** funds on file numbered funds in its name

**Exempt** reporting adviser venture or small private funds

- **Legal name:** DST Managers X Limited
- **SEC number:** CRD 337567

## Exits from the portfolio

Companies it backed that were later bought or listed **5 in all**

**[Flipkart](https://millionrounds.com/company/flipkart)** Bought by [Ebay](https://millionrounds.com/fund/ebay) **Undisclosed** Aug 2017

**[Twitter](https://millionrounds.com/company/twitter)** Listed **$1.8B** Nov 2013

**[Facebook](https://millionrounds.com/company/facebook)** Listed **$18B** May 2012

**[Zynga](https://millionrounds.com/company/zynga)** Listed **Undisclosed** Dec 2011

**[Groupon](https://millionrounds.com/company/groupon)** Listed **Undisclosed** Nov 2011

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$43M**

raised in Jul 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$81M** the round, not its cheque Alone, median **$140M**

Led 12 of 158 rounds **8%**

- **Said size:** $100K – $200M
- **Sole investor:** 8 rounds
- **Last cheque:** Oct 2026
- **Exits:** 5 from the portfolio

Rounds by stage said on their site

- Series B said *27*
- Series A said *26*
- Series C *17*
- Series D *16*
- Seed said *16*
- Series E *13*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 22
- [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) 17
- [Tiger Global Management](https://millionrounds.com/fund/tiger-global-management) 17
- [Accel](https://millionrounds.com/fund/accel) 16
- [Coatue](https://millionrounds.com/fund/coatue-management) 15
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 14

**Pitching DST Global?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as DST Global. A count of rooms they were both in, not a relationship either has claimed.

[**Sequoia Capital** VC firm **22** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Lightspeed Venture Partners** VC firm **17** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**Tiger Global Management** VC firm **17** rounds together](https://millionrounds.com/fund/tiger-global-management)[**Accel** VC firm **16** rounds together](https://millionrounds.com/fund/accel)[**Coatue** VC firm **15** rounds together](https://millionrounds.com/fund/coatue-management)[**Andreessen Horowitz** VC firm **14** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Y Combinator** Accelerator **10** rounds together](https://millionrounds.com/fund/y-combinator)[**General Catalyst** VC firm **9** rounds together](https://millionrounds.com/fund/general-catalyst)[**GIC** Private equity **8** rounds together](https://millionrounds.com/fund/gic)[**Greenoaks** VC firm **8** rounds together](https://millionrounds.com/fund/greenoaks)[**Index Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/index-ventures)[**NVIDIA** Company **8** rounds together](https://millionrounds.com/fund/nvidia)

## Recently backed

The latest companies DST Global put money into.

[**Sabi** $50M · Oct 2026](https://millionrounds.com/company/sabi)[**Mistral AI** $3.5B · Sept 2026](https://millionrounds.com/company/mistral-ai)[**Higgsfield** $400M · Aug 2026](https://millionrounds.com/company/higgsfield)[**Lovable** $400M · Aug 2026](https://millionrounds.com/company/lovable)[**Gradium** $100M · Jul 2026](https://millionrounds.com/company/gradium)[**Prometheus** $12B · Jun 2026](https://millionrounds.com/company/prometheus)

## Mentioned on podcasts

Episodes that name DST Global in their description, not their title.

- [EU-Startups Podcast](https://millionrounds.com/podcasts/eu-startups) 8 Oct 2026 · 41 min Where Podcasting Meets Venture Capital Mentions [Bank of America Merrill Lynch](https://millionrounds.com/fund/bank-of-america-merrill-lynch)[DST Global](https://millionrounds.com/fund/dst-global)[Harry Stebbings](https://millionrounds.com/fund/harry-stebbings) *+1* Apple PodcastsShow page
- [Scaling Europe](https://millionrounds.com/podcasts/scaling-europe) 2 Sept 2026 · 26 min Hendrik Van Hove, Co-founder of Conveo: BREAKING: Conveo raised $50M Series A Mentions [Balderton Capital](https://millionrounds.com/fund/balderton-capital)[DST Global](https://millionrounds.com/fund/dst-global)[Y Combinator](https://millionrounds.com/fund/y-combinator) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 11 Jul 2026 · 55 min 20VC: Why OpenAI and Anthropic Won't Win the App Layer | Why Teams Will Get Bigger Not Smaller in a World of AI | Why AI Removes Incumbents Advantage of Bundling | China vs America: Who Wins the AI War with Arvind Jain, Co-Founder @ Glean With [Arvind Jain](https://millionrounds.com/person/arvind-jain) Mentions [DST Global](https://millionrounds.com/fund/dst-global)[Google](https://millionrounds.com/fund/google-assistant-investments)[Kleiner Perkins](https://millionrounds.com/fund/kleiner-perkins) Apple PodcastsShow page
- [Scaling Europe](https://millionrounds.com/podcasts/scaling-europe) 14 Jan 2026 · 23 min Madeline Lawrence: Chief Growth officer at Aikido announcing their $60m raise at a $1bn valuation! With [Madeline Lawrence](https://millionrounds.com/person/madeline-lawrence) Mentions [DST Global](https://millionrounds.com/fund/dst-global) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 18 Mar 2021 · 31 min 20VC: Rappi Founder Simón Borrero on Growth vs Profitability, Capital Efficiency, Raising $1.7Bn as a LATAM Company and Why Uber Eats Did More To Help Than To Hurt Rappi Mentions [DST Global](https://millionrounds.com/fund/dst-global)[Sequoia Capital](https://millionrounds.com/fund/sequoia-capital)[Y Combinator](https://millionrounds.com/fund/y-combinator) Apple PodcastsShow page

## Quick answers about DST Global

### What does DST Global invest in?

DST Global invests most often at Series B and Series A (46% of the rounds on record), in sectors such as Internet and Technology.

### How active is DST Global?

158 investments on record, 29 of them in the last 12 months, and it led 12. The most recent was in Oct 2026.

### What has DST Global invested in recently?

Its most recent investments on record: Sabi (Seed, Oct 2026), Mistral AI (Series D, Sept 2026) and Higgsfield (Series B, Aug 2026).

### How big are DST Global's cheques?

The median round it joins is $81M. It says it writes cheques of $100K to $200M.

### Does DST Global lead rounds?

Sometimes: it led 12 of its 158 investments on record (8%).

### Where does DST Global invest?

Most of the companies it backs are in the United States (54%), France (15%) and Sweden (5%).

### Is DST Global investing now?

Yes: it is actively investing, with 29 investments in the last 12 months.

### Who does DST Global invest alongside?

Most often Sequoia Capital (22 rounds together), Lightspeed Venture Partners (17 rounds together) and Tiger Global Management (17 rounds together).

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