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MDIF Launches Private Equity Impact Fund for Independent Media

"...democratization, economic uplift, and independent media form a virtuous circle of development, accountability and growth." - Harlan Mandel, CEO of MDIF
In many countries, media companies are only able to raise capital from politically compromised sources, which puts editorial independence at risk. This is a concern for the Media Development Investment Fund (MDIF), which provides equity and debt financing to news and information companies in countries where access to independent media is under threat. This press release announces the launch of MDIF's Emerging Media Opportunity Fund I (EMOF), a private equity fund for independent media operating in restrictive environments.
Early deals include investments in Indian digital news publisher Scroll.in, Indonesia's data-driven business and finance news publisher Katadata, and Colab, a Brazilian platform where citizens can hold local governments accountable.
MDIF's earnings through carried interest are 100% conditioned on meeting a range of mission-aligned indicators, including the level of media freedom in the country at the time of investment, the practical impact of investee news and information throughout the investment, and a mission-aligned exit.
International investors in EMOF include Stichting DOEN, Open Society Foundations (Soros Economic Development Fund), IFU (Denmark's Investment Fund for Developing Countries), and co-investor JP Politiken Hus, in addition to MDIF.
Email from MDIF to The Communication Initiative on February 12 2019. © Errki Mervaala 300
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