Digital Sky Technologies, a Russian investment fund whose global web portfolio includes Airbnb, Facebook, Groupon, Spotify, Twitter, Zalando and Zynga, is seeking $1 billion for a new technology fund, Bloomberg reported yesterday, citing an investor presentation it has obtained.

The new fund, DST Global III, will focus on late-stage global Internet companies with a valuation of at least $500 million.

DST promises a stake in Facebook in return for the investment, according to Bloomberg.  Facebook stock valued at $50 million has been committed to the fund, meaning limited partners get a chance to own the shares through their investment. Early investors were offered the Facebook holding at a 12 percent discount to an internal valuation of about $74 billion, as well as a 25 percent reduction in the fund’s management fee.

The news comes less than one year after DST completed the financing for its second fund, DST Global II, having raised $867 billion. Of that total, $792 million was invested in 10 companies last year.

DST’s first fund, DST Global I, has returned invested capital at 4.89 times (before fees) and produced an annual 151 percent gross internal rate of return, according to the presentation cited by Bloomberg.