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Milner's Millions Marked For Social Startups

Russian super-investor and Digital Sky Technologies head Yuri Milner says he's got over $1 billion set aside for social startups over the next five years. "We monitor close to 50 companies globally that can be potential investment opportunities," Milner tell BusinessWeek. Milner said he expects to announce at least one deal by midyear. Last year, he shelled out $200 million for an almost 2% stake in Facebook. In December, meanwhile, Digital Sky Technologies led a round of funding in social gaming site Zynga.

According BusinessWeek, Digital Sky prefers small stakes in large, established social media companies that might otherwise be on the verge of an initial share sale. Milner, meanwhile, says he invests for the "very long term," comparing his style to that of Warren Buffett. And while he won't name potential targets, analysts say candidates include Twitter and Foursquare.

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