Yes, it's possible.
1) Create and run timer after the function call and start it
2) In timer's callback do whatever you need (call your function)
Read about timer on MSDN
EDIT: Note, that there are at least 3 types of timer in .NET and they behave different. Some of them will fire after the timeout (every 5 minutes in your case) until you call Stop
on them and some of them are executed only once.