Elon Musk has blown hot and cold with his intention to take social media platform Twitter, Inc. (NYSE:TWTR) private. This has set in motion discussions regarding his intent and the sources of funding.
Close on the heels of a Reuters report that said the fund-raising efforts are put on hold amid the uncertainty surrounding the deal, a Bloomberg report highlighted funding commitment from a financier, who is close to a Russian business tycoon.
A firm named VyCapital has agreed to contribute $700 million in funding toward the Twitter acquisition, Bloomberg reported, citing an amendment to the 13D filing by Twitter. The equity capital committed by VyCapital is the third-highest by an outside equity investor after Oracle Corporation (NYSE:ORCL) co-founder Larry Ellison's $1 billion and Sequoia Capital's $800 million.
Related Link: Chances Of Elon Musk Completing Twitter Deal Down To This Number, Says Munster
VyCapital, the report pointed out, is a Dubai-based investment firm and now has assets under management of over $5 billion. The investment firm is founded by Alexander Tamas, who had reportedly worked closely with Russian-Israeli billionaire Yuri Milner.
VyCapital has previously funded Musk's Boring Company, Bloomberg said, citing PitchBook Data. Tamas has also invested in the Tesla, Inc. (NASDAQ:TSLA) CEO's other ventures, SpaceX and Neuralink, the report said.
Tamas' LinkedIn profile shows that he previously worked for Goldman Sachs Group, Inc. (NYSE:GS) in its investment banking division as an Internet and Software analyst.
Price Action: Twitter closed Wednesday's session 0.77% higher at $40.44, according to Benzinga Pro data.
