MDIF has launched MDIF Western Balkans Fund, a strategic initiative using investment and media advisory services to foster growth and resilience in independent media in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia.
The Fund invests capital and management know-how ininnovative startups and growth media undergoing digital transformation, as well as seeking to protect independent media from capture.
“MDIF Western Balkans Fund seeks to bridge the financing gap that often hinders media growth,” said Mrs. Jelena Milosevic, the Fund Director. “It supports the development of robust, financially and editorially independent media organizations that are able to support the advancement of their societies.”
“We are also excited to open our first call for applications for equity investment from independent media and digital platforms along the early-stage spectrum that provide news in the public interest, counter information poverty or promote accountability and debate. This opportunity aligns with our commitment to supporting innovative initiatives that shape the media landscape of the Western Balkans,” Milosevic continued.
The Fund adopts a wide definition of “media” and is encouraging ventures including digital platforms and innovative tools and servicesthat contribute to a diverse media landscape to apply. Applications close at midnight CET on May 15, 2024.
MDIF Western Balkans Fund will catalyse capital to empower independent media enterprises in the region through no-strings-attached financing that drives growth and protects independence. It takes a holistic investment approach to supporting independence, and will utilize a versatile strategy of loans, equity and quasi-equity supported by media business expertise.
The Fund focusses on three types of investment:
- Innovative startups, including native digital and innovative content delivery as well as tools and technologies supporting products and services that increase citizens’ ability to access information.
- Growth independent media in digital transformation going through a change in business model.
- Investments aimed at protecting from capture independent media with potential for long-term viability via successful digital development, innovation and other growth strategies.
MDIF Western Balkans Fund’s mission is to tackle information poverty and fortify democratic societies across the region by investing in ventures that deliver essential information and robust debate. It aims to build a diverse investment portfolio — seed, startup and growth — with an eye on product, platform and geographic expansion.
Read more about the program, eligibility criteria and how media ventures can apply for financing.
About MDIF
Media Development Investment Fund is a not-for-profit investment fund based in New York, United States. It provides debt and equity financing supported by strategic advice to independent media companies in countries where access to free and independent media is under threat. With $158 million assets under management, since 1996 MDIF has invested $316 million in 152 independent media businesses in 47 countries. Its investments help independent media around the world provide the news, information and debate that people need to build free, thriving societies. Contact us at mdif.org for further information.