New York—GE Media, Communications & Entertainment, a unit of GE Commercial Finance, and NBC Universal announced they have created a $250 million equity fund to invest in media and technology companies with high growth potential.
The companies said the fund will focus on companies developing technologies, platforms or business models that would be a strategic fit with NBC Universal in several areas, including 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, an ad serving technology company in San Bruno, Calif.
—Carol Krol
