After much anticipation, the Huffington Post Investigative Fund launched last week.
When the non-profit venture was announced last March, it promised to “produce a broad range of investigative journalism created by both staff reporters and freelance writers, with a focus on working with the many experienced reporters and writers impacted by the economic contraction.”
With it’s $1.75 million budget, provided by The Huffington Post and The Atlantic Philanthropies, the site already has some pieces up about the Bank of America bailout, Treasury Secretary Timothy Geithner’s housing situation and health care.
In his introduction to the site, executive director Nick Penniman, founder of The American News Project, said the goal of the fund is to “merge the classic watchdog function of the press with the best tools of new media.”
“As financial pressures decimate the investigative reporting ranks at newspapers, magazines and TV stations, we are joining the movement to build new structures and ways of doing investigative journalism.”
We’re eager to see what sorts of investigative stories the I-Fund will pump out. And it will probably work to combat those critics who claim that HuffPo is destroying journalism.