Tuesday, December 18, 2007

Velocity, ComVentures Merge

Los Angeles-based Velocity, the investment group headed by former Fox Interactive Media head Ross Levinsohn and AOL's Jonathan Miller, and venture capital firm ComVentures, said today that the firms have merged to form Velocity Interactive Group. The firms said that they will have $1.5B in assets and have made a series of investments in the digital media and communications area. Velocity Interactive said that the firm has made investments in Indian firms NDTV Networks and IndiaTV, and has also made investments here in the U.S. in Doppelganger, Mixercast, and Fabrik. Velocity Interactive will focus on providing financing for seed, early stage, and growth companies. The new group will have offices in Palo Alto, Santa Monica, New York, and India.