You can't spell avarice without Vice.

CEO Shane Smith's goal of "total media domination" took a major step forward on Thursday with the announcement that Vice had raised $500 million in funding evenly split from A&E Networks and technology investment firm Technology Crossover Ventures (TCV).

A&E and TCV each took 10% stakes in Vice, valuing the Brooklyn-based company at $2.5 billion.

The move paves the way for Vice to appear on television screens across the U.S. A&E, a joint venture between Disney and Hearst Ventures, operates 10 cable channels including some with broad distribution. A move into television beyond its HBO show is seen as a natural move for Vice. Talks with Time Warner that recently fell apart were rumored to include control of struggling news channel HLN.

Vice content could soon find its way on to A&E, putting it into more than 98 million U.S. homes.

"By investing in Vice, we are thrilled about our potential to further deliver content that meets the demands of the latest consumption trends," A&E CEO Nancy Dubuc said in the release.

Vice has enjoyed a meteoric rise in value in the past year. The company had taken no known major investments until August 2013, when 21st Century Fox took a 5% stake that valued the company at $1.4 billion.

The influx of cash will provide Vice with plenty of room to continue its recent international expansion as well as continue to develop its already considerable video production capabilities.

"We believe that these new partnerships position us at the forefront of the coming convergence of media and technology, while preserving and protecting our independence, Vice cofounder and CEO Shane Smith said in a press release. "High-quality content and innovative tech platforms will drive Vice through this next period of growth on our relentless quest for total media domination."

Vice said the money will be used for a variety of development plans including building mobile distribution, an area that the company had not focused on in the past.