Media Development Investment Fund (MDIF), the New York-based non-profit which supports independent media in countries where it is under threat, has announced the final close of its MDIF Media Finance I (MMF I), a $6 million impact investment fund which will support news media in emerging and frontier markets. Likely investees, says a press release from MDIF, will be companies in countries such as India, Ukraine, Bolivia and Lesotho. MMF I will assist by providing affordable debt to independent news companies. Its investors include the Open Society Foundations, Dreilinden, a Dutch family office and Antonis Schwarz. ‘MMF I will finance investments in software, equipment, content production, workspace, as well as working capital and short-term cash-flow needs,’ says Harlan Mandel, MDIF’s chief executive.
MDIF, which now has over 20 years at the forefront of supporting independent media, will launch MMF II later this year.
The post MDIF closes $6 million media impact fund appeared first on Alliance magazine.
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