He’ll be based in London “as part of the venture team where, Index says, he “will lead early stage investments in the Internet, telecom/networking and media sectors and contribute to the firm’s later stage growth fund.” Volpi told Kara Swisher, who first reported the news, that price held back the sale of Joost: “Not everyone wanted to pay a lot to own Joost, but a lot of people wanted to rent it.” Hence, the announcement last week of the switch to a white-label offering.

SEE ALSO: @ Mipcom: Interview: Mike Volpi, CEO, Joost: No Set-top, Mobile Plans; Exclusivity Overrated

It’s Volpi’s first stint on the VC side but Index points out his involvement in acquiring companies during the 13 years at Cisco (NSDQ: CSCO) that preceded his two-year stint at Joost. (He led Cisco’s $10 million investment in Index’s first fund, as Kara notes.) Index was involved in bringing him in to head Joost in 2007, when it was clear the startup from Skype cofounders Janus Friis and Niklas Zennström, was having problems living up to even a small part of its hype. Volpi served on the board of Skype with Index partner Danny Rimer.  Release.