Former Fox Interactive Media prexy Ross Levinsohn and former AOL chairman-CEO Jonathan Miller have merged their Velocity Interactive Group with venture capital firm ComVentures.
ComVentures has focused on early-stage high-tech concerns, but the merger with Velocity will turn the company’s assets toward television and Web-based media as well. Velocity now boasts total assets of more than $1.5 billion.
The group immediately announced a series of investments in India, including newsie NDTV Networks and IndiaTV.
“We feel like we’re in probably as good a position in the market as anybody,” Levinsohn said, “and we’re going to find out ways to export product from here to there and to import product, too.”
Levinsohn said the company hopes to continue to expand in India and gain footholds in the growing Chinese media as well.
The group’s U.S. investments are mostly of a piece with ComVentures’ original goals. An example is Fabrik, a digital space management company that provides storage for personal media.