BOSTON--(BUSINESS WIRE)--Advancit Capital today announced that Jonathan Miller has joined as a partner on the investment team. Miller was most recently Chief Digital Officer and Chairman and CEO, Digital Media Group for News Corporation and prior to that served as Chairman and CEO of AOL. An active investor for many years, he was a founding partner of Velocity Interactive Group, an investment firm focusing on digital media and the consumer Internet space and co-founder of Fuel Media Commerce which is geared toward early stage investments. Miller is actively involved with emerging digital media and tech companies including Science, Maker Studios, Inside, Softtech, Mesa+, Personal.com and Tumblr until its recent acquisition by Yahoo. He sits on the Board of Trip Adviser, Shutterstock, Open X and Houghton Mifflin Harcourt.
“Jon’s extensive involvement in our key investment areas, coupled with his knowledge as executive and investor, makes him the perfect addition,” said Shari Redstone, the Managing Partner and co-founder of Advancit Capital. “We are excited about continuing to expand our platform and Jon’s insight and hands-on industry experience will be invaluable.”
“Advancit has quickly become a go-to partner for early stage companies where they get to link to respected investors. Against this backdrop of rapid evolution in the digital media space, we're here to help great entrepreneurs build amazing companies,” said Miller. “I'm thrilled to join Shari and Jason as we share a passion for understanding where the world's going combined with a well-developed sense of industry dynamics at all levels of scale.”
Advancit Capital was co-founded in 2011 by Redstone and Jason Ostheimer. Redstone is Vice Chair of the Boards of Viacom, Inc. and CBS, Inc. and President of National Amusements, Inc. Ostheimer was previously a Vice President at the Blackstone Group.
The firm has made more than 25 investments since its inception, with a focus on early-stage companies at the intersection of media, entertainment and technology. The team seeks the opportunity to form long term partnerships with talented and passionate entrepreneurs who are addressing large opportunities that are ripe for innovation and disruption. The firm provides not only capital, but access to a unique, deep network of industry relationships and strategic support to help accelerate a portfolio company. Investments have been focused primarily in New York as well as Los Angeles, San Francisco, Boston and the United Kingdom.