Comcast Corporation (Nasdaq: CMCSA, CMCSK), one of the world's leading media, entertainment and communications companies, today announced that it has combined Comcast Interactive Capital, the venture capital affiliate of the company, with the Peacock Equity Fund, formerly the venture capital affiliate of NBCUniversal and General Electric, into a newly combined fund called Comcast Ventures. The new entity now manages the joint portfolio, valued at approximately $750 million.
Amy Banse will serve as Comcast Ventures' Managing Director and Head of Funds. Comcast Ventures will invest in early-to-late stage businesses that represent the next generation of entertainment, communications and digital technology. Its primary goal will be to generate superior financial returns through the success of its portfolio companies by leveraging the experience, expertise and assets of the Comcast family of businesses. As part of her new role, Ms. Banse will relocate to San Francisco, focusing on a number of sectors, including digital media, e-commerce and entertainment. In addition to its presence in Silicon Valley, Comcast Ventures will maintain its offices in New York, Philadelphia and London. Ms. Banse will report to Michael Angelakis, Chief Financial Officer at Comcast Corporation.
"Technology is changing the way the world communicates, creates and consumes," said Brian L. Roberts, Chairman and CEO, Comcast Corporation. "We are excited by the future and want to partner with the entrepreneurs who are driving that change. Amy is an innovator at heart, having launched many businesses within Comcast. I am confident that Comcast Ventures will flourish under her skillful leadership."
"It's an exciting time to be in venture capital," said Ms. Banse. "Advances in software development, more effective marketing enabled by social networks and capital efficient business models are fueling rapid innovation. With our experienced investment team, our access to vast cable distribution and our affiliation with broad-based entertainment assets, Comcast Ventures is well positioned to provide insights and support to great entrepreneurs with radical, industry-changing ideas."
A 20-year Comcast veteran, Ms. Banse previously served as President of Comcast Interactive Media where she led Comcast's online strategy and oversaw the acquisitions of Fandango, Daily Candy, Plaxo, and thePlatform, as well as the in-house development and management of www.Comcast.net, www.XfinityTV.com, and Swirl (Daily Candy's sample sales site). Before that, Ms. Banse served as Executive Vice President of Comcast's Content Development where she oversaw the development of the company's cable network portfolio, including investments in E! Entertainment Television, The Golf Channel and VERSUS, and the development and launch of G4, PBS KIDS Sprout, TV One and Comcast's sports networks.
For more information about Comcast Ventures, visit www.ComcastVentures.com.
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.Comcast.com) is one of the world's leading media, entertainment and communications companies. Comcast is principally involved in the operation of cable systems through Comcast Cable and in the development, production and distribution of entertainment, news, sports and other content for global audiences through NBCUniversal. Comcast Cable is one of the nation's largest video, high-speed Internet and phone providers to residential and business customers. Comcast is the majority owner and manager of NBCUniversal, which owns and operates entertainment and news cable networks, the NBC and Telemundo broadcast networks, local television station groups, television production operations, a major motion picture company and theme parks.