Former Comcast Corp. CFO Michael Angelakis, now running a $4-billion Comcast-backed venture fund, made his first big bet on Monday with a $250 million investment into battered online-deals site Groupon.

Angelakis will join the Groupon board as part of the transaction, Groupon said.

The deal is Comcast's latest investment into digital media after previously announced stakes in BuzzFeed and Vox. Comcast also is rumored to be interested in acquiring Yahoo and recently began selling its cable and Internet services on online retail giant Amazon.

Angelakis, Comcast's former chief financial officer and vice chairman, launched the Comcast-backed Atairos earlier this year, with offices in New York and Bryn Mawr. Comcast has agreed to fund the Atairos with $4 billion.

Atairos will be purchasing $250 million in senior notes that are due in 2022 and can be converted into Groupon shares at $5.40 a share. Groupon shares were trading at $4.35 a share in the early afternoon on Monday, up 11 percent.

"Groupon is an established leader in connecting customers with local business," Comcast Cable CEO Neil Smit said in a statement. "The potential in combing Groupon's local expertise with Comcast's vast subscriber and advertiser network is something we look forward to closely exploring together."