Facebook Investors DST, Elevation Each Want $1 Billion

Russian investment firm DST is dangling stakes in Facebook to potential investors in the hopes of raising $1 billion for a new late-stage technology fund.

DST has committed $50 million worth of stock in the social network to the fund. Bloomberg obtained an investor presentation stating that early investors are being offered stakes in Facebook at a 12 percent discount, as well as 25 percent off the management fee of the DST fund.

And Elevation, a private-equity firm that counts Bono and Roger McNamee among its founders, is seeking to raise money for the first time in seven years, having last brought in $1.8