MobiTV announced Wednesday its first close of series C financing with a $70 million investment from Oak Investment Partners.

Oak Investment Partners’ Bandel Carano will join MobiTV’s board as part of the investment deal.

MobiTV is the television and digital radio service provider for cellular, WiFi and broadband-enabled devices for more than 20 global carriers, including Sprint, Cingular and Alltel. It recently expanded its service to personal computers through broadband and WiFi networks, and expanded its availability to the Latin American market in addition to serving U.S., United Kingdom and Canadian customers.

Oak Investment Partners is a venture capital firm with a focus on information technology and new media investments.