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Media giant and cable provider Comcast has merged two of its existing equity funds into Comcast Ventures, which will manage around $750 million in tech investments that include video game companies.

Frank Cifaldi, Contributor

May 27, 2011

1 Min Read

Media giant and cable provider Comcast has merged two of its existing equity funds into Comcast Ventures, which will manage around $750 million in tech investments that include video game companies. The merger comes after Comcast's acquisition of NBCUniversal earlier this year. Comcast Ventures combines the previous Peacock Equity Fund with Comcast Interactive Capital, with previous game-related investments in companies like Bigpoint, Trion Worlds and Vivox. It will invest in "early to late-stage businesses that represent the next generation of entertainment, communications and digital technology," according to a statement by the company. Amy Banse, the former head of Comcast's interactive media, is moving to San Francisco to oversee the new combined entity. According to The Wall Street Journal, Banse will "look more closely" at the video game industry in order to diversify Comcast's portfolio. "I am proud and thrilled to serve as Comcast Ventures' Managing Director and Head of Funds," said Banse in a blog post. "It's a particularly exciting time to be in venture capital as advances in software development, social networking and mobile devices fuel rapid innovation." More information on Comcast Ventures is available on its just-launched website.

About the Author(s)

Frank Cifaldi

Contributor

Frank Cifaldi is a freelance writer and contributing news editor at Gamasutra. His past credentials include being senior editor at 1UP.com, editorial director and community manager for Turner Broadcasting's GameTap games-on-demand service, and a contributing author to publications that include Edge, Wired, Nintendo Official Magazine UK and GamesIndustry.biz, among others. He can be reached at [email protected].

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