Velocity Interactive Group, a venture fund managing around $1.4 billion in investments that was known as ComVentures until November 2007, has changed its name to Fuse Capital. Separately, the fund is announcing the formation of a new venture fund with Best Buy focusing on digital media investments. The size of the new fund is not being disclosed.

Fuse Capital was rocked in March when partner Jonathan Miller left to head up News Corp.’s newly formed Digital Media group.

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