$250 million fund created
GE Commercial Finance and NBC Universal have launched a $250 million private equity fund to invest in early stage media and tech startups.
The fund, which will make investments in $3 million-$15 million increments, will seek companies with high growth potential and those that would fit strategically with NBC U, including advertising services, digital video, wireless and social networking.
GE and NBC U announced the fund had already made an investment in San Bruno, Calif.-based Adify, which has developed technology to serve ads online.
“We believe in the ad network model, and Adify is a true leap forward in online ad-serving technology,” said Beth Comstock, NBC U president of integrated media.