Brian Roberts, chief executive of Comcast, said of Amy Banse: “Under Amy’s leadership, Comcast Ventures has invested in some of the most innovative consumer and enterprise technology companies. We have worked together for nearly 30 years and I have always admired her passion and vision for identifying the next big idea. She has carried that through Comcast Ventures and has helped her team develop hundreds of value-creating partnerships.”
Amy Banse, who has recently announced her plans to retire at the end of 2021, had taken over as head of funds for Comcast Ventures in December of 2011. She left Philadelphia where she spent 20 years building companies within Comcast to build the firm’s headquarters in the heart of the startup ecosystem – Silicon Valley. Since she joined in 2011, Comcast Ventures has grown to include more than 100 companies in its portfolio across consumer, enterprise and frontier technology.
In the past 10 years, technology hubs have sprouted up beyond the Valley into new markets. Comcast Ventures also expanded its reach, from coast to coast, Canada, and as far away as Dubai. Banse also increased investments in founders from diverse backgrounds. Comcast Ventures is industry-leading when it comes to funding women, with 26% of its portfolio having at least one female founder. The firm recently announced its renewed commitment to back Black, Latinx and female founders in Catalyst, its sub-fund focused on investing in founders who often don’t have access to capital. The fund has supported 70 companies in the past 10 years and increased its commitment this year by adding a leadership team like no other. Investor and NBA champion Andre Iguodala and Airbnb executive Fatima Husain joined forces to grow Catalyst and support its existing portfolio.
THE PLATFORM
Amy Banse has always believed in the power of the Comcast NBCUniversal platform. She is an evangelist for corporate venture capital, touting the benefits of venture partners who can invest capital as well as provide access to relationships, knowledge, resources, tools and potential customers. Under Banse’s leadership, Comcast Ventures formed Forecast Labs incubation and accelerator arm which helps startups drive revenue growth through a unique tv advertising program and access to experts in startup growth and operations. Within its first 6 months, Forecast Labs offered 8 startups ROI-positive TV advertising through Comcast’s Effectv. The one-of-a-kind programme drove significant growth in valuation in each of the unit’s investments.
She also incorporated a robust internal business development arm, so Comcast Ventures could better serve as a bridge to Comcast NBCUniversal.
Recently, Comcast Ventures connected four of its portfolio company startups (Hive, Sevenrooms, Grokker, Stella Connect) with Comcast Business to team up and offer businesses ways to stay connected with teams and customers during the covid-19 crisis. She also drove an initiative to quickly assist portfolio companies as shut-downs escalated in March 2020.
These are just a few examples of how Banse brings together the best of both worlds – a large technology-focused corporation with massive reach and innovative startups with speed and talent to scale. On VC panels, she’s the one to unapologetically argue that corporate venture capital brings more to startup founders than many traditional investors. The team moves faster than they ever have. Comcast Ventures thinks about how innovative ideas can benefit the corporation, while also focusing on ways the corporation can help its portfolio companies grow.
HER RECORD
Comcast Ventures is consistently ranked on the list of top 10 most active CVCs in the U.S. Banse has curated a specialized team of Partners and Principals who vet upwards of 2500+ deals a year. Genacast sub-fund is focused on East Coast early-stage investments in enterprise and frontier technology. Forecast Fund focuses on early-stage investments in consumer technology companies. Under Banse’s leadership, the firm has been able to gain access to more competitive early-stage deals in addition to adding value at later stages of growth. Notable exits include Cheddar, Data Plus Math and Dollar Shave Club as well as enterprise technology companies Aporeto, Bay Dynamics and Docusign.
The team is far from conventional. It includes experienced investors, entrepreneurs and startup operators from multiple industries and based in offices in San Francisco, New York, Philadelphia and Los Angeles. The team’s diverse experiences and networks across multiple categories show in its portfolio.
Under Banse’s leadership, Comcast Ventures has been recognized by the GCV with Rising Stars Daniel Gulati, Andy Cao and Emerging Leader Kim Armor. These active investors and leaders are outspoken advocates of corporate venture capital, demonstrating the value of CVC involvement in the growth of venture-backed companies.
