Los Angeles media venture capital firm Velocity Interactive Group said Thursday that it changed its name to Fuse Capital and will become the manager of a new fund financed by big box retailer Best Buy.

Best Buy, which bought music streaming service Napster last fall, is the sole limited partner in the venture. It hopes to take advantage of current depressed values for digital media and emerging technology businesses. The size of the Best Buy fund was not disclosed.

The deal represents an expansion into strategic asset management for Fuse, which will continue to manage its own $1.4 billion fund.

Fuse managing partner Ross Levinsohn was a member of the Napster board and will be one of two Fuse partners on the board of the Best Buy fund.

?his strategic initiative is a natural extension and evolution of our capabilities, given our firm? extensive strategic, investment and operational experience in both emerging companies and large corporations across digital media,?Levinsohn said in a statement.