(5 May 2010 4:40 pm)

MUMBAI: Adult entertainment company Playboy has announced that Paul H. Lee has been named managing director of its new digital ventures.

In his new position, Lee will be responsible for launching, acquiring, partnering with, and investing in new digital business opportunities.

Lee joins Playboy from the Peacock Equity Fund, a joint venture between NBC Universal and GE Capital, where he currently serves as senior vice president. He will assume his new duties on 17 May.

Playboy’s Print/Digital Group executive VP Scott G. Stephen says, "Paul’s investment experience and expertise with digital business development make him the perfect choice to oversee our new digital initiatives. His keen ability to build 21st century companies from inception to growth will help us further leverage the power of the brand and build new revenue streams for Playboy."

Lee says, "The Playboy brand presents many opportunities to create additional revenue streams. By combining new digital business models and the iconic nature of the brand, Playboy can significantly expand its digital footprint and I am excited to lead this effort".

Lee was a founding member of the Peacock Equity Fund in 2007. As a deal partner, he focussed on investments in the mobile and gaming sectors. Peacock Equity’s investments include 4INFO, Adify, Bigpoint, Blogher, Greystripe, Healthline, Ramp, and Rubicon Project.

Lee serves on the board of directors in several Peacock Equity investments.