Comcast Ventures, the corporate venturing affiliate of US-based cable service provider Comcast, has expanded its Comcast Ventures Catalyst Fund to the west coast of the country.
Established in 2011, Comcast Ventures Catalyst Fund is a $20m fund that comprises the combined Comcast Interactive Capital and Peacock Equity Fund, previously the corporate joint venture representing broadcaster NBCUniversal and conglomerate General Electric.
The New York-based fund currently has nine companies in its portfolio. It targets early-stage startups run by minority entrepreneurs in the entertainment, communications and digital technology sectors.
Comcast has also hired Laurence ‘Lo’ Toney, formerly the CEO of online education website LearnStreet and a general manager at game publisher Zynga, as a partner to lead Catalyst Fund’s west coast activities from a new San Francisco office.
Toney said: “Minority-founded startups have traditionally received a disproportionately low percentage of angel and venture funding.
“I am eager to help change that by establishing a dedicated Comcast Ventures Catalyst Fund presence in the Bay Area. We have an opportunity to help minority entrepreneurs grow and succeed by bringing them financial and strategic resources from our LP.”
– Photo of Laurence Toney courtesy of LinkedIn