Andrew Cleland (pictured), managing director (MD) of investments at US-based media company Time Warner, is leaving to join cable peer Comcast’s corporate venturing unit next month.
Cleland has worked at Time Warner for nearly a decade, five years of which has been in corporate venturing, and in February last year was promoted to MD from executive director of investments.
In an emailed statement, Cleland said: "After many happy years at Time Warner, I’m excited to be joining Comcast Interactive Capital, the investment arm of Comcast and NBCUniversal, next month. I am joining their [sic] new Manhattan office as a venture partner."
Comcast acquired 51% of broadcaster NBCUniversal from industrial conglomerate General Electric (which retains 49%) earlier this year and took over management of its corporate venturing joint venture, the $200m Peacock fund, and also promised to set up a $20m investment vehicle for entrepreneurs from minority demographics.
At Time Warner, Cleland was on the boards or an observer of its Gaia Online, Tumri, Six Degrees Games, Visible World and Double Fusion portfolio companies.