James and Kristin Dolan launch venture capital fund

20 dollar bills

Fresh off the $17.7 billion sale of the cable company their family founded, married couple James and Kristin Dolan have announced the formation of a venture capital fund. 

Dolan Family Ventures will focus on investments in data, analytics and technology-related business, 

RELATED: Cablevision boss Dolan gets million dollar raise, takes in $24.6M in 2015

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“The advertising, marketing and media industries are rapidly transforming through the advancement of data, technology and analytics,” said Kristin Dolan, in a statement. “Over the past several months, we have seen a number of investments in businesses that specialize in these areas and capitalize on these trends. DFV will allow us to pursue opportunities with companies and talent that can benefit from our capital, insights, relationships, entrepreneurial experience and operational skills to accelerate their growth, development and success.”

James Dolan served as CEO of Cablevision, and Kristin Dolan as COO until this past spring, when European telecom conglomerate closed its purchase of the Long Island-based cable company. 

Kristin Dolan will lead the new venture, according to the announcement, while James Dolan will serve as an advisor. The Dolans didn’t disclose the size of their fund. Kristin remains on the board of directors at AMC Networks and The Madison Square Garden Company (MSG).

According to Bloomberg, James Dolan received around $128 million following the takeover of Cablevision by Altice NV. Most of that came in the form of equity awards, which reportedly exceeded $110 million.

Dolan is the son of Cablevision founder Charles Dolan, who controlled nearly 23 percent of Cablevision at the time of the Altice purchase. That stake was valued at around $1.9 billion, according to Bloomberg, giving the family a net worth of $4.3 billion.