Once again we are here to write about DST, the Russian venture fund investing in Internet companies. And this time because the DST’s CEO, Yuri Milner, announced that the fund is ready to invest $ 1 billion in social web companies within the next 5 years. The Moscow based fund plans to invest in social mea startups around the world, mostly outside Russia to become a significant investor in the Internet arena, that’s what Milner told to Bloomber Businessweek.

In Russia DST has investments in Mail.ru and VKontake.ru, which is the leading Russian socialweb. Analysts say that companies like Twitter and Foursquare are potentially a target for the Russian fund, which already detains also a share in Facebook and currently is bidding for AOL’s ICQ.

Milner say he invests in a long term perspective, like Warren Buffett, an investor he admires.