After just 10 months, Jeff Schrock is leaving Monster Venture Partners to take a job at Intel Capital. PeHub.com, which first reported the news, said that the former RealNetworks executive will work from Seattle and focus on the digital home sector.

Schrock's move to Intel Capital comes amid a tumultuous few weeks for Bellevue-based Monster Venture Partners and other early-stage angel investment firms. In October, executives at MVP's portfolio companies were told to "batten down the hatches" and prepare for rough times in which funding might not be available. Rob Monster, who founded MVP, said that Schrock -- who was approached by Intel Capital about the job -- is leaving on good terms.

And Schrock, 41, said he was looking forward to working side-by-side with Intel given the opportunities in the market right now.

"It is an interesting time to be on the capital side of the equation," said Schrock, referring to the ability to seek out bargains amid these tough economic times.

Unlike Matt Gordon who previously led Intel Capital's efforts in the Pacific Northwest, Schrock will not be geographically focused. Instead, he plans to travel the globe seeking deals in the digital media arena on behalf of Intel.

Unlike traditional venture capital firms that rely on pension funds, universities and other large institutional investors for their money, MVP has been bankrolled largely with the personal funds of Rob Monster. Given the current market gyrations, Monster is more exposed than most traditional VCs.

"Our model was predicated on build and exit," said Monster. "If the exit market is not as good, you are not going to be doing as much investing."

In an interview, he said the firm has scaled back its investment pace and is now focused on getting its slate of nearly two dozen Internet companies to profitability. Monster described the climate for startup investing right now as a "nuclear wasteland," adding that it is a "thankless task" trying to raise money for those early-stage startups right now.

Monster said that he enjoyed working with Schrock, who will remain involved at portfolio companies such as EVO Landing and WiFi.com.

"He got presented with a great opportunity. He had my blessing," said Monster.

When I spoke to Schrock in February, the Internet executive said he was excited about MVP's prospects of investing in early-stage companies that weren't quite ready for venture financing. Schrock said he still believes in MVP's approach, though he couldn't pass up the chance to work with Intel.

A Seattle area angel investor who co-founded Activate.net, Schrock previously worked as the vice president of corporate development at RealNetworks. He also held senior roles at Yahoo.