GE, NBCU Launches Investment Fund

NEW YORK, April 18: GE
Media, Communications & Entertainment, a unit of GE Commercial Finance, and
NBC Universal have launched a $250 million equity fund to invest in media and
technology companies with high growth potential.

The fund will focus on
companies developing technologies, platforms, or business models with a “strong
strategic fit” with NBC Universal, the company said. This would include
ventures involved in advertising services, wireless, digital content and communities
and international platforms.

GE Media, Communications
& Entertainment and NBC Universal also announced they have invested $3
million in Adify, a California-based company that facilitates online
advertising.

"Just as digital
technology drives the convergence of media, communications, and entertainment,
it's creating demand from our customers in these industries for investors who
can provide financing and operational solutions," said Michael Chen, the
president and CEO of GE Media, Communications & Entertainment. "By
partnering with NBC Universal, we're combining their media and distribution
capabilities with our investment expertise to deliver these solutions."

Beth Comstock, the
president of integrated media at NBC Universal, added: "In this rapidly
changing environment, new technologies and new business models emerge every
day. This fund gives us an opportunity to participate in the development of
cutting edge technologies and to help shape the future of our industry. We
believe in the ad network model, and Adify is a true leap forward in online ad
serving technology. Vertical networks are emerging as an important way to
develop scale for our marketing clients."

The fund will target
investments ranging from approximately $3 million to $15 million each.