The firm selected another former Fox Interactive executive, Mickie Rosen, as a partner overseeing its West Coast investments, including the digital studio and management company Generate, and online ad optimization firm FatTail. Ms. Rosen will also seek new investments for the fund.
"The economic downturn is significant, but there is still a ton of innovation," said Ms. Rosen. "One thing you don't want to do in a market like this is overreact."
At Fox Interactive, Ms. Rosen was general manager for entertainment, running Rotten Tomatoes and AmericanIdol.com, as well as Fox on Demand, MySpace's first foray into online video. She helped negotiate to get News Corp. on Hulu, the joint venture with NBC Universal.
Previously, she was head of product development and marketing at movie-ticketing site Fandango, which was acquired by Comcast in 2007.