Arianna Huffington says the Huffington Post Investigative Fund was created because time-consuming and expensive investigative journalism is being endangered by newspaper layoffs. (Evan Agostini/Associated Press)

The Huffington Post has announced it will bankroll a group of investigative journalists by teaming up with donors and other organizations.

Their first mission will be to examine stories about the U.S. economy.

The Huffington Post website, which has seven staff reporters, contains a collection of opinionated blog entries and breaking news.

The popular blog is uniting with The Atlantic Philanthropies and other donors to launch the Huffington Post Investigative Fund. It will have an initial budget of $1.75 million US

Arianna Huffington, co-founder and editor-in-chief of The Huffington Post, said Sunday that's enough money for a staff of 10 journalists, who will be co-ordinating stories with freelancers.

Work produced through the fund will be made available to any publication or website for use at the same time it is posted on The Huffington Post.

Huffington said she and the donors were concerned that layoffs at newspapers were hurting investigative journalism at a time when it is much needed. She hopes to procure work from laid-off journalists.

"All of us increasingly have to look at different ways to save investigative journalism," said Huffington, who said she hopes her actions will encourage others to fund similar ventures.

While The Huffington Post takes a liberal stance, the investigative fund will be nonpartisan, according to Nick Penniman, the fund's executive director.

"We care about democracy, not Democrats," he said.

With files from the Associated Press